Government enables Pakistan-Afghanistan trade in rupees

As Pakistan’s exports to Afghanistan have declined after the Taliban took control of Kabul in August 2021, the government made a crucial move on Tuesday to enable trade in all products to Kabul in the rupee via land routes due to the lack of tradable currency through banking channels.

The action is intended to import Afghan coal for Pakistan as it is experiencing an energy crisis due to a lack of foreign reserves to purchase liquefied natural gas (LNG) or oil on the international market to fuel its power plants.

The Economic Coordination Committee (ECC) approved summary of the Ministry of Commerce to amend paragraph 3(1) of the Import Policy Order 2022 to permit the import of goods of Afghan origin against the Pak rupee and without the requirement of EIF forms for a period of one year, subject to the condition that Afghan exporters will provide a Certificate of Origin issued by Afghan Customs evidencing that the goods have originated from Afghanistan.

Source: globalvillagespace.com


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