PESHAWAR:Sarhad Chamber of Commerce and Industry (SCCI) has urged State Bank of Pakistan to establish a proper mechanized banking channel with Central Asian Republics for smooth trade and financial transactions.
The demand was made by acting president Sarhad Chamber of Commerce and Industry, Imran Khan Mohmand during a meeting regarding difficulties to trade with Central Asian Republics, held here at the chamber house on Monday.
SCCI vice president Javed Akhtar, former senior vice president Engineer Manzoor Elahi and the chamber standing committee on Pak-CARs chairman and Director Area Study Centre University of Peshawar Bashir Ahmad were present during the meeting.
Participants of the meeting thoroughly discussed the impediments in the way of bilateral trade with Pakistan and regional countries and suggested a number of proposals to address all those problems amicably.
Imran Mohmand stressed the need of upgradation of Web-based one Customs system (WeBoC) for facilitating trade with Central Asian republics.
The SCCI acting chief viewed that the importance of geographical aspects of Khyber Pakhtunkhwa cannot be overlooked, as KP has the locational advantage of connecting South Asia with Central Asia and with Eastern Europe.
Therefore, he said if KP locational advantage would be properly utilized, this region would become a hub of trade, which would ultimately pave the way for bringing economic stability, prosperity and development in the whole country.
Imran Mohmand informed the meeting that the SCCI had inked an agreement with Uzbekistan and Surkhandarya Chambers and is likely to also reach agreements with Tajikistan, Turkmenistan, Kyrgyzstan and Kazakhstan very shortly.
This is part of the chamber efforts towards promotion of regional trade, he added.
The SCCI acting chief welcomed the government decision to allow Afghan traders for duty-free import of fresh fruits and vegetables from Afghanistan to facilitate bilateral trade and border crossings will also remain open around the clock under the move, he added.
Imran Mohmand also appreciated the government’s decision regarding extending cash in counter facility till 31st December, 2021.