In an effort to bolster trade activities between Pakistan and India, the Integrated Check Post (ICP) is expected to be operational by next month, an official said Sunday.
According to an official familiar with matter told online that and once the infrastructure requirements are fulfilled, trade through Wahga will be
allowed as per earlier decisions taken by the both sides.
The ambitious ICP project at the Attari border is spread over 130 acres and built at a cost of Rs 120 crore and on an average, 200 trucks laden with Indian merchandise cross the Wagah border daily at present. The ICP, when fully operational, will enable 10 times the number of trucks to pass conveniently. It had agreed both countries last month for opening of Munabao/Khokharapar route for trade will be explored in consultation with the stakeholders and a joint working group would be constituted in this respect.
The move of ICP will go along way to normalise trade ties between both countries. The Pakistan government announced granting of Most Favoured Nation (MFN) status to India in November last year. But, criticism from a section of industry in Pakistan has forced the government to take measured steps on the issue. But, officials said they were optimistic that by the end of 2012, the transition to full MFN status would be complete.
To remove non-tariff barriers which were obstructions for Pakistani exports to India, Pakistan and India had also signed three agreements including Customs Cooperation, Mutual Recognition and Redressal of Grievances Agreement.
Formal trade between India and Pakistan rose to $2.7 billion in 2010-11 from $144 million in 2001, while informal trade including third country trade is estimated at $10 billion.
Voila! The missing jigsaw piece of Indo-Pak trade
