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Pakistan plans new curbs on Afghan importers.

Under a new Afghan-Pakistan Transit Trade Agreement (APTTA), Islamabad has suggested Afghan importers submit bank guarantees on transportation of goods to the landlocked country.

A leading Pakistani newspaper, quoting official sources, reported on Saturday financial securities in the form of bank guarantees would be taken at the time of import of consignments under the fresh APTTA.

The Business Recorder said: "The bank guarantee on transit consignments would be equivalent to the amount of duties and taxes involved in the consignments being imported into Afghanistan." Pakistan will discuss with Afghan customs authorities the proposal for including a clause of bank guarantees in the new APTTA.

The present agreement restricts transport of Afghan cargo through the Pakistan Railways alone, although most the consignments are being transported by National Logistic Cell (NLC).

In line with the proposal, the daily added, Afghans will be required to submit bank guarantees for the transit of goods through Pakistan.

If a container goes missing in transit process, the bank guarantees will be encashed to make the recovery.

Officials of the Federal Board of Revenue (FBR), Ministry of Commerce and other departments took up the proposal at a recent meeting of the National Trade and Transport Facilitation Committee (NTTFC).

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Publication:Pajhwok Afghan News (Kabul, Afghanistan)
Date:Oct 4, 2009
Words:216
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