Islamabad:
The Senate Standing Committee for Trade on Monday discussed the barter system with Iran and heard complaints from the representatives of the trade bodies about the difficulties they are facing in trade with neighboring countries.
The committee met with his chairman Anusha Rehman in the chairman. The committee meeting was estimated that 600 loaded trucks were stuck at the border between Pakistan-Iran because the officials demanded import order.
Committee member Salim Mandviwala said food was going to Iran from Pakistan during barter. Trade Secretary Jawad Pal said the State Bank had made the electronic import form (EIF) mandatory.
However, Mandviwala said this was not import because there was no payment and added that no EIF form was needed. The Ministry of Commerce’s officials said that if the traders declared their good in the V-book, there would be a problem.
Mandviwala said this case was not so simple. The President noted that the statutory regulatory order (SRO) on barter was not in operation while a subcommittee was formed to investigate this question.
The trade secretary said that the goods imported during barter had to be declared first. But Mandviwala said trade could not be corrected because the traders could buy something in exchange for their goods.
The chairman said that three Indian banks paid Iran in their own currency, so Pakistan should also do the same.
