PAJCCI urges MoC for finalizing barter trade mechanism committee

April 15, 2022: Zubair Motiwala Chairman of Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI) has vociferously urged the Ministry of Commerce (MoC) to nominate the Pakistan side barter trade mechanism committee on a priority basis as further delay will surpass waiver extension of EIF and E-Form resulting in suspension of trading activities, said a press release issued today.

It is important to note that after the first expiry PAJCCI, keeping in view the current banking regime in Afghanistan, policies of the State Bank of Pakistan of withdrawing Cash on the Counter facility, shortage of foreign exchange in Afghanistan, requested Afghanistan Inter-Ministerial Coordination Cell to consider further extension of the waiver of EIF and E-Form, which was extended however it was specified that same suspension would not exceed and barter trade mechanism needs to be finalized during the stipulated 45 days.

Afghanistan side has already constituted the committee led by Co-Chairman of PAJCCI, Khan Jan Alokozai under which all relevant provincial chambers are represented. Last week, a deliberation of this committee was also held under the aegis of the Ministry of Commerce, Afghanistan.

However, even after the passing of one month, the committee from the Pakistan side is not announced and the expiry of extension is nearing. Hence Motiwala urged that the requirement of E-Form & EIF shall be waived till the barter trade mechanism between the two countries is finalized, as the deliberations may take extensive time.

PAJCCI further offered to support the formation of the committee along with the members from all relevant chambers of Pakistan by signing MOU with them for smooth coordination and facilitation on the same lines of Afghanistan, as it is the joint platform across the border.

PAJCCI has also highlighted the continued issues of third-party payment refusal by commercial banks and redressal by State Bank even after the amendment in GLA by US Treasury.

Press Release