Import and Export Bill: waivers on exports to Afghanistan at the cost of foreign exchange

The government is extending waivers on export of various products to Afghanistan at the cost of precious foreign exchange as it is importing POL products and exporting at cost equal or above the price being charged from local consumers, marring their interests.
The National Assembly Standing Committee on Commerce has approved a bill for import of a product which is deficit in Pakistan and will be exported to a third country at a cost equal or above the price being charged from consumers in Pakistan, spending precious foreign exchange needed for debt servicing.
According to a report of the National Assembly Standing Committee on the Bill further to amend the Import and Exports (Control) Act, 1950 exclusively available with Business Recorder, the Committee has passed "The Import and Export (Control) Amendment Bill 2010".
The report was placed on Tuesday agenda items of the proceedings of the National Assembly on private members'' day. But the Speaker deferred it due to absence of Chairman of Standing Committee on Commerce, Khurram Dastgir Khan. According to the Bill approved by the Committee, amendment of section 3, Act XXXIX of 1950.- In the Imports and Exports (Control) Act, 1950, in section 3, after sub-section (4) the following new sub-section (5), shall be added namely:
"(5) A product, which is a deficit product in Pakistan and is imported at the cost of foreign exchange, will only be further exported to the third country at a cost equal or above the price being charged from consumers in Pakistan." According to statement of Objects and reasons of the Bill, Pakistan''s economy is on the verge of collapse, and government is desperate to levy more taxes on the poor people of Pakistan.
Today, when strict measures are direly needed to support the national economy, the government is extending different waivers on export of various products to the neighbouring country Afghanistan. As a result, national exchequer has to bear undue burden of billions of rupees every year. Diesel is a deficit product in Pakistan and is imported at the cost of foreign exchange it does not make economic sense to export a deficit commodity on cheaper rate, whereas, people of Pakistan pay additional 20-30 rupees on the same product.
On the other hand, the aforesaid export is causing huge losses to national exchequer because of misuse of export facility, as POL products, which are exported to Afghanistan, are being sold back in the country, after receiving such waivers from the government of Pakistan. Private companies and bulk purchasers are earning huge profits through unfair means from domestic market. Therefore, it is need of the hour to add above-mentioned sub-section in the Act to safeguard foreign exchange and Interest of Pakistani consumers.