ISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar here on Monday chaired the fifth meeting of the Steering Committee on Integrated Transit Trade Management System (ITTMS).
Chairman Federal Board of Revenue, Tariq Bajwa informed that the special committee which had been formed to examine the project cost has completed its study and the cost has been revised downwards to $300 million.
Based on the deliberations on the subject among the stakeholders he further proposed that competitive bidding for Chamman and Torkham Border Crossing Points (BCP) may be held between NLC and FWO. For Wagha, international competitive bidding may continue as planned, the chairman FBR added. The Steering Committee after detailed deliberations approved these proposals.
The minister asked the chief coordinator, FBR to impress upon all relevant agencies to expedite work on the ITTMS project and said that proposal on the project should be submitted to the ECNEC in its forthcoming meeting for final approval.
ITTMS, it may be added aims to improve trade facilitation at key border crossing points and envisages to help Pakistan become a hub of trade activities in the region.
Commerce Minister, Khurram Dastgir Khan, Country Director, ADB Werner Liepach and senior officials of various ministries and departments attended the meeting.
