Railway woes: Traders seek relief packages from federal govt

K-P’s economy has remained steady despite hindrances, says KPCCI president.


Our Correspondent September 30, 2014

PESHAWAR: The economy of the province has remained steady despite setbacks because of militancy. However, special financial packages are required to improve it, said Khyber-Pakhtunkhwa Chamber of Commerce and Industry’s (KPCCI) newly-elected president Fawad Ishaq on Tuesday.

He was addressing a gathering of traders from across K-P, who had participated in electing a new president for the association. KPCCI has a total of 2,211 registered voters of which 405 are corporate members while 1,806 are associated members. They elect a new KPCCI president every year.

President Ishaq said the province’s economy has moved from being agro-based to semi-industrial due to relentless efforts the business community. But due to militancy and power shortages, hundreds of industrial units have closed down. He added that the province needs help to utilise and explore its indigenous resources.

Ishaq said that the only positive thing for K-P is trade with Afghanistan and other central Asian countries, however, it is unable to meet its potential because of federal policies and ignorance of the provincial government.

“The problem of extortion faced by traders has now been resolved to a great extent,” said the outgoing KPCCI president, Zahidullah Shinwari.

He added foreigners hesitate to invest in the province due to erratic government policies, security situation and the federal government’s discriminatory treatment. “The province can see economic development if it is considered as equal to the rest of the country and allowed to utilise its resources for its own development,” said Shinwari.

Railway woes

“The delay in release of insurance funds, monopoly of bond carriers and hurdles in partial shipments are the fundamental weaknesses of Pakistan Railways,” said Chairman of the Standing Committee on Dry Ports, Ziaullah Sarhadi.

He added Pakistan Railways has acquired new locomotives. Only if at least two new trains for Afghanistan Pakistan Transit Trade Agreement (APTTA) are run from Karachi to Peshawar, traders will have some 400 extra containers available to export their goods easily to Afghanistan.

Sarhadi added some 70% of the trade between Pakistan and Afghanistan has already shifted to Iran’s Bandar Abbas port. He said that under the APTTA, there is a clause that the authorities would meet after every three months to discuss issues, but since the signing of the agreement no such meeting has been held.

Published in The Express Tribune, October 1st, 2014.

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