Pakistan’s exports to Afghanistan decline by over 25%
Khyber Pakhtunkhwa Chief Collector (Customs) Ahmad Raza Khan said that the weak Afghan economy had decreased the residents’ purchasing buying power, which badly hit trade between the two neighbouring countries
Pakistan's exports to Afghanistan had declined by more than 25% during the last six months due to a "fragile economic situation" in Afghanistan due to the international sanctions imposed after the Taliban's Kabul takeover, Khyber Pakhtunkhwa Chief Collector (Customs) Ahmad Raza Khan.
He said that the weak Afghan economy had decreased the residents' purchasing buying power, which badly hit trade between the two neighbouring countries, reports the Dawn.
The Pakistani official said that the State Bank of Pakistan had introduced a new policy of exports to Afghanistan on 13 December requiring Afghan traders to show US dollars along with their passports at the time of entry to Pakistan to acquire Form-E for buying and importing Pakistani goods to Afghanistan. Customs official blames it on poor Afghan economy.
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Ahmad Raza Khan said that the new SBP trade policy was meant to lure Afghan traders to bring American dollars to Pakistan and thus, increasing Pakistan's foreign exchange reserves to improve its economy. He added that with the Afghan banking system nearly on the verge of collapse and their foreign exchange reserves almost dried up, the new trade policy failed to give the much-needed impetus to the bilateral trade.
