Islamabad—The Chairman Federal Board of Revenue Sohail Ahamd Butt on Wednesday said that Pak-Afghan transit trade agreement would benefit both Pakistan and Afghanistan but not India. “Pakistan will provide trade transit facility to India for Afghanistan when India responds on reciprocal basis by providing the Pakistan with same facilities to Nepal and Bangladesh” Butt said while talking to reporters after attending meeting of Public Accounts Committee here at Parliament House. “Under Pak-Afghan trade transit agreement Pakistani traders would get access to markets at Central Asian States” he observed adding,“ However, Indian trade goods would not be permitted to Afghanistan under this treaty”.

He added that Pakistan had conveyed to Afghan authorities that Afghan traders would have to use containers, bound for India from Afghanistan, of international standards which would remain sealed while passing through Pakistani territories. Responding to a question, Butt said that according to a report published by FBR in collaboration with few other organizations, Pakistan had potential of generating tax collection worth of Rs 500 billions more by improving tax colleting mechanism. “We are confident that Pakistan tax payers have potential of contributing Rs 500 billions are tax revenue to the national exchequer by making coordinating efforts at local, district and provincial levels” the FBR Chairman added.

He said that Customs Department had played gigantic role in averting smuggling of goods booked for Afghanistan in the name of Afghan transit that was why hundreds of containers loaded with electronic goods were waiting for entry into Pakistan at Tookham border. “We are now considering permitting them entry after payment of duty however the decision in this connection would be taken after deep consultation with local industry and business community” he observed.

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paesh