ISLAMABAD: The Ministry of Commerce has moved a summary to Economic Coordination Committee (ECC) for the removal of regulatory duties from major imports from Afghanistan consisting of fruits, vegetables and dry fruits.
This summary has been moved on the request of Afghan government. Since ECC does not exist due to non-presence of federal cabinet; therefore, the said summary is pending with the ECC Secretariat waiting for the formation of new government for passage.
However, a source at FBR told Customs Today, on Tuesday that FBR would conduct a study to measure the tune of loss to revenue collection in result of removal of regulatory duties from Afghan imports. Once the summary is approved the tune of revenue collection from imports from Afghanistan will also be affected.
In the light of minutes of summary moved to ECC, the source said that FBR was preparing to measure the possible loss of taxes due to the removal of regulatory duties on Afghan imports. In this connection, a few measures have been taken along with issuance of directions to the concerned directorates for the provision of statistics of tune of regulatory duties from Afghan imports in recent years.
While giving a backgrounder to the issue, the source said that an inter-ministerial bilateral meeting between Pakistan and Afghanistan in May this after a pause of two years in high level interaction on trade. The purpose of the meeting was to improve bilateral trade relations. In addition it was also agreed to facilitate Afghan cotton exports to Pakistan.
The Afghan delegation thanked the Pakistan for their hospitality and for showing the spirit of accommodation about concerns of Afghan side on SPS/ Quarantine certification and regulatory duties and assured to remove impediments in bilateral and transit trade with Pakistan. Regular interaction between the two countries will help enhance bilateral and transit trade.
