Traders welcome Pakistan Land Port Authority

Hope it will discourage illegal trade and remove hurdles in trade with Afghanistan

APP May 23, 2021
Pakistanis have invested over Rs739 billion in all types of prize bonds and 22% of the total investment is in Rs25,000 denomi-nation bonds. PHOTO: FILE


The business community has appreciated the government for establishing the proposed Pakistan Land Port Authority (PLPA) after proper consultation with the business community and relevant stakeholders in this regard. “This initiative will discourage illegal trade and remove hurdles present in way of bilateral and transit trade with Afghanistan as well as Central Asian Republics,” said Sarhad Chamber of Commerce and Industry (SCCI) Senior Vice President Mansoor Elahi in a statement on Saturday.

“It will also facilitate the business community, exporters and importers by speeding up procedures at borders. He stressed the need for bolstering trade ties with Afghanistan and enhancing exports to the Central Asian Republics. In this regard, he revealed that SCCI had presented its proposals to the federal government. “If the suggestions are implemented in letter and spirit, trade with Afghanistan and regional countries will increase which would in turn stabilise the local economy and improve the country’s exports,” he said. “Pakistan should sign free trade agreements with regional countries and establish business to business contacts and take advantage from each other’s experiences.”

Participants were informed that PLPA is going to be established in support of the Asian Development Bank (ADB) and the authority aimed at modernising the external border of Pakistan. Meeting participants said that PLPA would ensure effective, timely and efficient movement of goods, people and vehicles across international borders.

They hoped that the initiative will boost economic growth and investment, create job opportunities, improve export performance and uplift regional connectivity. Similarly, they said that PLPA would help slash trade costs, ensure trade facilitation and create an environment conducive for business.