Banking channel with Central Asian states: SCCI urges SBP to evolve proper mechanisation

PESHAWAR: Sarhad Chamber of Commerce and Industry (SCCI) has urged the State Bank of Pakistan (SBP) to establish a proper mechanisation in banking channel with Central Asian countries for ease and smooth trade and also for financial transactions.

The demand was made by SCCI acting president Imran Khan Mohmand during a meeting regarding difficulties to trade with Central Asian Republic countries, held here at the chamber house on Monday.

The SCCI vice president Javed Akhtar, former senior vice president Engineer Manzoor Elahi 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 for facilitating trade with Central Asian republics. 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.

Copyright Business Recorder, 2021