KARACHI: The Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) urged the government to continue waiver of EIF and E-Form for six more months to avoid Pak-Afghan transit trade.
The PAJCCI, in a statement, said the waiver of EIF and E-Form would expire on April 30. It would further increase the problems of the business communities across the border as both the correspondent and commercial banks were shy of engaging with Afghanistan despite US relaxation in sanctions for facilitating commercial transactions.
It said in a meeting with the high authorities of Pakistan’s Ministry of Commerce and Federal Board of Revenue, it once again pointed out the devastating effects caused by banking limitation, suspension of cash on counter facility and crunch of foreign exchange. The situation was aggravated by requirement of EIF and E form that should be suspended till an alternate mechanism was in place or at least for next 6 months.
“The FBR, Ministry of Commerce and other senior government functionaries had earlier agreed that in absence of viable barter trade mechanism, the requirement of E-Form and EIF for trade with Afghanistan may be waived for further 6 months to ensure that trade does not suffer and revenue arrives in national treasury,” it added.
The PAJCCI emphasized on immediate action as due to closure of two important border crossings, the congestion already was affecting business especially in season of Afghanistan exports. “This suspension of waiver will significantly amplify the problem on both sides.”
The barter trade committee was still pending to be notified, which once would happen then deliberations could be initiated for developing alternate mechanism. Afghan side barter committee had already been formed in March 2022 and had initiated discussions under leadership of Khan Jan Alokozai, Co-Chairman PAJCCI, the statement said.
