LoC trade: Traders to settle accounts through authorities
Exchange documents on defaulters; urge official action.
MIRPUR:
After recent meetings between the foreign ministers and foreign secretaries of India and Pakistan, and ahead of commerce secretary-level talks between the two countries which began Thursday, cross-border traders on both sides of the Line of Control (LoC) met for more than three hours at the Zero Line at Taitrinote-Chakan-Da-Bagh in the Rawalakot-Poonch district on Wednesday to discuss wide-ranging issues.
Civil and police administration officials from Rawalakot and Poonch also attended the meeting. The Azad Jammu and Kashmir (AJK) Trade and Travel Authority director general also joined the meeting for the first time, said official sources.
Nearly 100 traders from AJK and Indian-held Jammu and Kashmir (IHK) attended the meeting. 62 traders represented AJK, while 38 traders joined the meeting from the IHK side.
Sources said a significant decision was taken in the meeting pertaining to the settlement of payments pending for traders on both sides of the border. The administration dealing with trade on both sides of the border was presented documents listing outstanding amounts due to traders from each side. Traders also notified authorities regarding details of defaulters and the amounts pending against their businesses. They authorised officials to take against such persons, in order that the latter make good on their agreement to export goods of an equal amount to settle dues.
“This was done to settle pending accounts of traders on both sides,” sources said; adding that businesspersons on both sides of the border have agreed to the formula.
Officials of the administration dealing with cross-LoC trade on both sides have agreed to the demand. The decision was taken after traders on both sides of the border complained that some businessmen had turned defaulters on both sides of the LoC, and were involved in over-invoicing for goods traded.
But sources clarified that the reasons for this may not be entirely sinister. Traders may have turned un-wilful defaulters due to fluctuation in exchange rates, they said.
Nevertheless, the presidents of Cross-LoC Traders Association from both sides reportedly submitted affidavits and documents from traders to the administration, in which they pledged to settle accounts within the next few days.
In another important decision, the Cross-LoC Traders Association decided not to hold another meeting at the Taitrinote-Chakan-Da-Bagh crossing in the future, unless a proper place was provided by the administration on either side for traders to sit and meet. The traders had had to sit in the open for this meeting.
Administrators from both sides of the border also met each other, and decided to facilitate trade on most of the 21 items approved by the Governments of India and Pakistan. Trade authorities from either side also assured full cooperation to traders in the expansion of trade facilities across the LoC.
Published in The Express Tribune, September 21st, 2012.
After recent meetings between the foreign ministers and foreign secretaries of India and Pakistan, and ahead of commerce secretary-level talks between the two countries which began Thursday, cross-border traders on both sides of the Line of Control (LoC) met for more than three hours at the Zero Line at Taitrinote-Chakan-Da-Bagh in the Rawalakot-Poonch district on Wednesday to discuss wide-ranging issues.
Civil and police administration officials from Rawalakot and Poonch also attended the meeting. The Azad Jammu and Kashmir (AJK) Trade and Travel Authority director general also joined the meeting for the first time, said official sources.
Nearly 100 traders from AJK and Indian-held Jammu and Kashmir (IHK) attended the meeting. 62 traders represented AJK, while 38 traders joined the meeting from the IHK side.
Sources said a significant decision was taken in the meeting pertaining to the settlement of payments pending for traders on both sides of the border. The administration dealing with trade on both sides of the border was presented documents listing outstanding amounts due to traders from each side. Traders also notified authorities regarding details of defaulters and the amounts pending against their businesses. They authorised officials to take against such persons, in order that the latter make good on their agreement to export goods of an equal amount to settle dues.
“This was done to settle pending accounts of traders on both sides,” sources said; adding that businesspersons on both sides of the border have agreed to the formula.
Officials of the administration dealing with cross-LoC trade on both sides have agreed to the demand. The decision was taken after traders on both sides of the border complained that some businessmen had turned defaulters on both sides of the LoC, and were involved in over-invoicing for goods traded.
But sources clarified that the reasons for this may not be entirely sinister. Traders may have turned un-wilful defaulters due to fluctuation in exchange rates, they said.
Nevertheless, the presidents of Cross-LoC Traders Association from both sides reportedly submitted affidavits and documents from traders to the administration, in which they pledged to settle accounts within the next few days.
In another important decision, the Cross-LoC Traders Association decided not to hold another meeting at the Taitrinote-Chakan-Da-Bagh crossing in the future, unless a proper place was provided by the administration on either side for traders to sit and meet. The traders had had to sit in the open for this meeting.
Administrators from both sides of the border also met each other, and decided to facilitate trade on most of the 21 items approved by the Governments of India and Pakistan. Trade authorities from either side also assured full cooperation to traders in the expansion of trade facilities across the LoC.
Published in The Express Tribune, September 21st, 2012.