AIRLINK 63.43 Increased By ▲ 0.23 (0.36%)
BOP 5.46 Increased By ▲ 0.06 (1.11%)
CNERGY 4.68 Increased By ▲ 0.11 (2.41%)
DFML 19.02 Decreased By ▼ -0.71 (-3.6%)
DGKC 70.29 Increased By ▲ 1.29 (1.87%)
FCCL 19.12 Increased By ▲ 0.87 (4.77%)
FFBL 30.86 Increased By ▲ 1.47 (5%)
FFL 9.58 Increased By ▲ 0.27 (2.9%)
GGL 10.16 No Change ▼ 0.00 (0%)
HBL 109.20 Decreased By ▼ -0.86 (-0.78%)
HUBC 127.70 Increased By ▲ 1.69 (1.34%)
HUMNL 6.85 Increased By ▲ 0.12 (1.78%)
KEL 4.39 Decreased By ▼ -0.08 (-1.79%)
KOSM 4.43 Decreased By ▼ -0.02 (-0.45%)
MLCF 37.39 Increased By ▲ 0.79 (2.16%)
OGDC 128.50 Increased By ▲ 0.20 (0.16%)
PAEL 22.80 Decreased By ▼ -0.39 (-1.68%)
PIAA 26.50 Increased By ▲ 0.30 (1.15%)
PIBTL 6.19 Increased By ▲ 0.19 (3.17%)
PPL 112.52 Decreased By ▼ -0.28 (-0.25%)
PRL 26.85 Decreased By ▼ -0.30 (-1.1%)
PTC 16.75 Decreased By ▼ -0.34 (-1.99%)
SEARL 60.72 Decreased By ▼ -1.37 (-2.21%)
SNGP 65.35 Increased By ▲ 1.40 (2.19%)
SSGC 11.05 Increased By ▲ 0.02 (0.18%)
TELE 9.10 Decreased By ▼ -0.13 (-1.41%)
TPLP 11.28 Increased By ▲ 0.28 (2.55%)
TRG 69.85 Decreased By ▼ -1.10 (-1.55%)
UNITY 23.65 Decreased By ▼ -0.30 (-1.25%)
WTL 1.31 Decreased By ▼ -0.07 (-5.07%)
BR100 7,280 Increased By 64.2 (0.89%)
BR30 23,637 Increased By 105.1 (0.45%)
KSE100 70,315 Increased By 694.7 (1%)
KSE30 23,132 Increased By 221.5 (0.97%)

LAHORE: Moazzam Ghurki, President Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) lauded the initiative of Pakistani and Chinese government for reopening the Khunjerab Pass and said during a think tank session held at PCJCCI Secretariat on Wednesday that it connects Gilgit Baltistan with China’s Xinjiang Uyghur Autonomous region and is a major trade route between Pakistan and China which has been reopened after a closure of almost three years due to the Covid-19 pandemic.

President PCJCCI added that, in 2019 trade volume between China and Pakistan surged by nearly 47% to $856.3 million but due to the closure the exchequer had suffered around Rs8 billion revenue losses as the CPEC-related shipments halted following the border closure.

Hundreds of people affiliated with the Pakistan-China border trade face economic hardship following suspension of trade and travel between the two countries through the Khunjerab pass.

Fang Yulong, Senior Vice President PCJCCI said that Khunjerab Pass lies on the strategic Karakoram Highway (KKH), which is a part of multibillion-dollar China-Pakistan Economic Corridor (CPEC) project.

The port is extremely important platform and is considered to be an important link to China’s flagship Belt and Road Initiative (BRI). He also added that the trade at Khunjerab Pass is conducted through the newly-introduced Web-based One Customs (WeBOC) system.

The government believed that trade would be much easier after WeBOC as it would align the Sust dry port with all the modern infrastructure in dry ports across the country.

Hamza Khalid, Vice President PCJCCI said that the reopening of the border crossing is expected to boost economic activities between the two countries China has been an incredible support to Pakistan at all times.

“The constant assistance and reopening of this border will do wonders for the emerging economic status of Pakistan and will certainly have a positive impact on the business community.”

Salahuddin Hanif, Secretary General PCJCCI said that the reopening of the pass removes a hurdle that would further expedite the pace of work on the China-Pakistan Economic Corridor (CPEC).

He also appreciated the relevant authorities of the two countries and team members over the restoration of trade and travel facility.

Copyright Business Recorder, 2023

Comments

Comments are closed.