AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

ISLAMABAD: Pakistan has opened the land route for commercial activities with Afghanistan and Central Asian Republics (CARs).

This was stated by the senior officials of the Ministry of Industries and Production while briefing the meeting of the sub-Committee on the Senate Standing Committee on Industries and Production held here on Friday under the Convenership of Senator Fida Muhammad Khan.

The meeting was held to examine the problems faced by the Export Processing Zone (EPZs) of Khyber-Pakhtunkhwa (KPK).

In relation to restriction on the export of trading goods to Afghanistan and the CARs, the panel was informed that the Ministry of Commerce has issued a notification allowing the export of manufactured goods via land route alone to Afghanistan and CARs. Trading and warehousing were restricted. Clarification has been demanded by the Ministry of Commerce in this regard. The facility incentive of trading via land route to promote business avenues will be reviewed in light of the decision of the ECC of the Cabinet.

The committee reviewed details of the Risalpur Export Processing Zone (REPZ) and the EPZA’s joint venture with Khyber-Pakhtunkhwa Economic Zone Development and Management Company (KPEZDMC). The member panel was informed of the progress on the project and the challenges that ensued.

Steps urged to develop barter trade mechanism with Afghanistan

The committee was informed that 92 acres of the EPZA had been developed and since export zones are exempt from GST on electricity, the Federal Board of Revenue (FBR) has issued a letter to Peshawar Electricity Supply Company (PESCO) in this regard. It is expected that the GST exemption should begin with the next billing cycle. The issue of uninterrupted power supply was taken up by the committee, which remains a major challenge in the development of the REPZ.

The committee was informed that the PESCO is in the process of providing an independent feeder for this purpose, which is due to be completed by December. Another option was that a connection is taken from PASDEC; this would take a month. The committee directed that both parties get together and discuss modalities, after which details are to be submitted to the committee.

Regarding the dilapidated infrastructure of the REPZ, it was recommended that KPEZDMC may be directed to implement the terms and conditions of the MOU regarding improvements. Routine infrastructure maintenance was stressed.

Senator Falak Naz and Senator Hidayat Ullah and senior officers of the Khyber-Pakhtunkhwa Economic Zone Development and Management Company, PESCO along with all concerned also attended the meeting.

Copyright Business Recorder, 2022

Comments

Comments are closed.