PESHAWAR: Executive Committee of the Sarhad Chamber of Commerce and Industry stated bilateral trade and transit trade had adversely affected due to the prolonged closure of the border crossing points that has inflicted massive financial losses and triggered joblessness
The executive committee meeting chaired by SCCI President Junaid Altaf debated in detail on the closure of the Pak-Afghan sharing border and four other crossing points and took a unified stance on this crucial matter, according to a statement issued here on Friday.
The forum emphasized that the issue must be addressed through table talks and resume the bilateral trade and transit trade to avoid further financial losses to the trading community.
The EC took a clear stance that the business community has fully sensing the gravity of the situation and current internal and external security issues and there will be no compromise on the country’s security and peace.
The forum, however, stressed the resumption of bilateral trade is crucial for economic stability, growth, business and commercial and industrial activities. Â
Meeting was attended by SCCI Senior vice president Muhammad Nadeem, vice president Sabir Ahmad Bangash, Group leader and former FPCCI president Ghazanfar Bilour, former presidents SCCI Fuad Ishaq, Fazal Moqeem Khan, Zulfiqar Ali Khan, former senior vice president and Chairman of SCCI Committee for Pak-Afghan Bilateral Trade and CARs Shahid Hussain and Chairman of SCCI Committee for Transit Trade with CARs and former president Faizi Muhammad Faizi, former senior vice presidents Abdul Jalil Jan, former vice president Haris Mufti, and members of the executive committee Sajjad Zaheer, Aftab Iqbal, Adnan Nasir, Shamsur Rahim, Gul Zaman, Ziaul Haq Sarhadi and Saifullah Khan, Saddar Gul, Fahad Amin, Ishtiaq Paracha and Sohail Javed and others.
President Junaid Altaf while apprising the house stated that more than 12,000 containers of Pak-Afghan and Transit Trade had stranded at the Karachi Port and traders have been compelled to heavy demurrage and detention charges.
Whereas thousands of containers of traders from the both countries, especially those laden with perishable items had also stranded at Ghulam, Spin Boldak, Kharlachi and Torkham border, inflicting massive financial loss to trading community owing damaged of the food and perishable items, the meeting told.
SCCI chief called the Torkham crossing border is widely considered a lifeline for the traders engaged for trade and transit trade between Pakistan and Afghanistan but KP business community is completely dependent on the trade with Afghanistan and Central Asian countries are left high and dry in the prevailing circumstances, and suffered with billions of rupees financial losses.
President Junaid Altaf informed the closure has disrupted perishable exports, raised unemployment, and inflicted severe socio-economic hardship on border communities dependent on cross-border trade, emphasizing to acknowledge the gravity of the situation and this issue must be addressed on priority grounds.
Furthermore, he informed that stakeholders report losses of millions of dollars per day from container detention and billions blocked in bank guarantees and container security deposits.
The liquidity of clearing agents and bonded carriers has been exhausted, while foreign shipping lines continue to accrue charges, President Junaid Altaf said.
He said keeping in view Pakistan’s geo-politics position in the region, particularly this is the only route to carry out trade with Afghanistan and Central Asian Countries, therefore, the closure of these trade routes must be reconsidered and reopened for trade immediately. Â
