ISLAMABAD: The Steering Committee on Integrated Transit Trade Management Systems (ITTMS), headed by Federal Finance Minister Ishaq Dar, has okayed the blueprint of Land Port Authority (LPA) to monitor all the cross border movement of goods and people.
Advisor to Prime Minister on National Security and Foreign Affairs, Sartaj Aziz and other senior officials were also present.
Federal Board of Revenue (FBR) Chairman Tariq Bajwa gave a detailed presentation to the meeting about the ITTMS project which aims to make Pakistan a regional hub for transit trade in line with the vision of the Prime Minister.
A number of measures are being taken to channelise the cross border trade activities under this project for which the proposed Land Port Authority (LPA) would play the role of a facilitator and regulator.
The land acquisition for the LPA at Torkham on the basis of 99 years renewable lease is already being undertaken.
The FBR chief briefed the meeting that ITTMS project had been included in FBR’s PSDP for FY 2014-15. FBR presented the PC-I in August, 2014 to the Planning Commission. Pre-CDWP meetings were also held in October, 2014. Based on the recommendations of the Planning Division, revised PC-1 has also been submitted. Technical Evaluation and Project Appraisal is completed and FBR has designated focal persons on-site, to liaise with local administrations, at Torkham, Chaman and Wahga.
ADB has committed $204 million for ITTMS Project, primarily through its own resources, or by including some other development partner. ADB Country Director Werner Leipach also addressed the meeting, giving an overview of the ADB’s financing plan for the project.
