LAHORE: Trade activities between Pakistan and India have slowed down in current fiscal year of 2017-18, as the bilateral trade between the two rival nations has dropped to $1.25 billion from $2.4 billion of five years ago in 2013.
Sources in trade and industry said that Pakistan and India are presently doing a total bilateral trade of around $5 billion annually most of which is done via Dubai, besides unofficial trade across the Line of Control (LoC) on Srinagar-Muzaffarabad Road which is not documented.
According to the Pakistan Customs officials, the number of trucks crossing over from India has reduced significantly to just 4-2 from the normal routine of 150 truckloads due to non-tariff barriers from Pakistan including, Customs checking, Rangers inspection and close investigation of phytosanitary quarantine department. However, the number of truckloads going from Pakistan to India is almost constant in the range of about 100, officials said.
Sources told that Pakistan Rangers has created an atmosphere of high alert, with vigorous investigation of all consignment from Indian side since 2016. As a result, the volume of export from India is sharply dropping for the last couple of years.
Now Pakistan has increased its export to India through value addition. Earlier, it was sending traditional items of dry dates, gypsum, cement and raw fabrics. After keeping in view of the demand of Indian Punjab, the Lahore, Gujranwala and Faisalabad industry has developed itself, installing new machinery and enhancing capacity to add more value to their products.
