AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 127.04 No Change ▼ 0.00 (0%)
BOP 6.67 No Change ▼ 0.00 (0%)
CNERGY 4.51 No Change ▼ 0.00 (0%)
DCL 8.55 No Change ▼ 0.00 (0%)
DFML 41.44 No Change ▼ 0.00 (0%)
DGKC 86.85 No Change ▼ 0.00 (0%)
FCCL 32.28 No Change ▼ 0.00 (0%)
FFBL 64.80 No Change ▼ 0.00 (0%)
FFL 10.25 No Change ▼ 0.00 (0%)
HUBC 109.57 No Change ▼ 0.00 (0%)
HUMNL 14.68 No Change ▼ 0.00 (0%)
KEL 5.05 No Change ▼ 0.00 (0%)
KOSM 7.46 No Change ▼ 0.00 (0%)
MLCF 41.38 No Change ▼ 0.00 (0%)
NBP 60.41 No Change ▼ 0.00 (0%)
OGDC 190.10 No Change ▼ 0.00 (0%)
PAEL 27.83 No Change ▼ 0.00 (0%)
PIBTL 7.83 No Change ▼ 0.00 (0%)
PPL 150.06 No Change ▼ 0.00 (0%)
PRL 26.88 No Change ▼ 0.00 (0%)
PTC 16.07 No Change ▼ 0.00 (0%)
SEARL 86.00 No Change ▼ 0.00 (0%)
TELE 7.71 No Change ▼ 0.00 (0%)
TOMCL 35.41 No Change ▼ 0.00 (0%)
TPLP 8.12 No Change ▼ 0.00 (0%)
TREET 16.41 No Change ▼ 0.00 (0%)
TRG 53.29 No Change ▼ 0.00 (0%)
UNITY 26.16 No Change ▼ 0.00 (0%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 10,010 Increased By 126.5 (1.28%)
BR30 31,023 Increased By 422.5 (1.38%)
KSE100 94,192 Increased By 836.5 (0.9%)
KSE30 29,201 Increased By 270.2 (0.93%)

Caretaker Prime Minister Muhammadmian Soomro has asked officials concerned to open more trade routes with India to facilitate export of cement and other products to the neighbouring country.
Speaking at the inauguration of the Passenger Facilitation Centre, Wagah (rail and road) on Saturday, he described the opening of the Centre to be a landmark step to improve trade between the two countries. Punjab Governor Khalid Maqbool, Federal Board of Revenue (FBR) Chairman Abdullah Yousaf, Customs Chief Collector (North) Shahid Rahim Sheikh and Customs Member Mehmood Alam were also present on the occasion.
The prime minister said: "Such facilities will improve trade and cut cost of business between the two countries", adding that promotion of trade between the two will also help rationalise rates of different commodities across the border. He also underlined the need for promoting people-to-people contacts, saying this will strengthen peace and stability in South Asia.
He appreciated the self-assessment scheme and other reforms introduced in the Federal Board of Revenue, saying these will minimise contact between taxpayers and tax collectors, and result in increase in collection of taxes.
Soomro said there is great demand for cement in India, and opening of new routes will prove helpful in this regard. He said he will extend full support in this connection and will take up the issue with the foreign office.
FBR Chairman Abdullah Yousaf talking to newsmen on the occasion, said that Ganda Singhwala border near Kasur could be reopened as another trade route to boost trade between India and Pakistan. He said the FBR would soon present a report to the government for opening this route.
To a query, he said that new passenger facilitation centres at Wagah border will reduce customs clearing time of a bus-load of passengers to 25 minutes, which earlier took about two to three hours through manual clearance.
For a train, the customs clearance time has been reduced to an hour and half, from the earlier practice, which took up to five to six hours, he added. Addressing the ceremony earlier, the FBR chief said that a new gate would be opened up at the Wagah border to facilitate round the clock bulk transportation of trade goods.
"The gate will be constructed close to the previous border crossing gate, and both sides have planned for it," he said. Abdullah Yousuf said the FBR is undergoing a restructuring process at all its facilities to bring about a fundamental change to further facilitate customers and ensure transparency in its services.
Electronic clearance of goods has facilitated the clearing process and helped reduce the average clearance time of a ship at Karachi from 5-6 days to just 13 hours, the FBR chief observed. He also talked about improving the rail link between India and Pakistan, and said that sufficient number of wagons for goods trains between India and Pakistan are needed to boost trade through railways.

Copyright Associated Press of Pakistan, 2008

Comments

Comments are closed.