Abolition of import duties on many items from Kabul – Journal
ISLAMABAD: The government removed additional tariffs and regulatory duties on several items and reduced import duties on essential goods from Afghanistan for six months.
The move will help the Taliban government generate foreign exchange through exports.
By notification, the government lifted the import duties on coal, bituminous coal, talc, marble (unworked or roughly cut), plants and parts of plants (including seeds and fruits), cumin seeds neither crushed nor crushed, sulfur of all kinds other than sublimated sulfur, yams (Dioscorea spp.) and containers (including containers for the transport of fluids) from Afghanistan.
Through another notification, the regulatory duty on the import of marble (raw or roughly trimmed) was exempted and the regulatory duty on the import of inshell peanuts was reduced from 20 percent to 10 percent. These notifications will remain in effect until June 30 of next year.
Travel to help the Taliban government generate foreign exchange through exports
By another notification, the Federal Board of Revenue exempted from additional customs duties on the importation of man-made fibers, cumin seeds neither crushed nor crushed, plants or parts of plants, sulfur of all kinds, other than sublimated sulfur, precipitated sulfur and colloidal sulfur sulfur, talc, marble and travertine – rough or rough bituminous coals, other coals, containers (including containers for the transport of fluids) specially designed and equipped for transport by a or several modes of transport.
Pakistani imports from Afghanistan rose 99% to $ 18.960 million in July-August 2021, from $ 9.514 million in the same months last year.
The State Bank of Pakistan (SBP) extended the currency convertible to cash facility as an export product for the settlement of exports to Afghanistan and Central Asian states, which expired on October 15, 2021 The facility is now extended until December 31, 2021.
Under this facility, Authorized Resellers will accept currency convertible into cash brought to their counters as an export product without requiring a customs declaration for passengers. On July 2, 2021, the SBP issued a circular revising procedures and made it mandatory for exporters to show proof of dollars when issuing Form E.
The change met resistance from stakeholders, including exporters and the SBP, put the requirements on hold until October 15, 2021, which was extended until December 31, 2021.
To facilitate exporters of perishable goods, the government has allowed exports of fresh fruits, fresh vegetables, meat and fish in Pakistani rupees to Afghanistan. The government has now added rice and pharmaceuticals to the list of exports to Afghanistan.
The SBP is also likely to include more items in the list for Pakistan rupee trade with Afghanistan.
Two other proposals are also under consideration to allow trade with Afghanistan by land in local currency or under currency exchange agreements.
Posted in Dawn, December 24, 2021