Commenting on the new Trade Policy for fiscal year 2008-09, experts on ports and shipping said on Monday that increased Pakistan-India bilateral trade would remarkably boost the shipping services between the two countries.
The Trade Policy, which envisages exports target of $22.1 billion, marking an increase of 15 percent, claims to aim at poverty alleviation, value-addition, compliance with international standards, reduction in cost of doing business and diversification of products and markets.
Through it, the government besides expanding the last of importable items from India also allows import of inputs under Duties and Tax Remission for Exports (DTRE) scheme, diesel and fuel oil due to cheaper transportation cost, CNG buses on trial basis, machinery and equipment for mining and grinding of minerals along with spares.
However, shipping experts said that except the "cool chain items" the new policy had no mention of any major initiative in connection with the proposed national trade corridor improvement program (NTCIP), an important World Bank backed long-term project aiming at reducing the cost of doing business in Pakistan.
Relaxation in the age of transport vehicles imports would boost the trucking industry and might increase competition in the sector, reducing the land transportation costs, the experts said. They, however, came with the advice for the government that it should be very serious in ensuring that the imported equipment is in usable/serviceable condition.
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