ISLAMABAD – Pakistan has delayed the implementation of the controversial Afghanistan Pakistan Transit Trade Agreement (APTTA) till summer this year as further deliberations are needed on various issues Trade Secretary Zafar Mehmud briefing the media about recent developments during the consultative session of Pak-Afghan Transit Trade Coordination Authority and indicated that both sides need greater cooperation on issues such as bank guarantee, letter of credit, installation of tracker system on containers and biometric system.
“APTTA implementation is delayed till June of this year till some of the outstanding disputes are resolved”, the trade secretary indicated. The coordination authority to overview the progress in this regard will hold its next meeting four months later in Kabul, he added. He stressed upon the both the countries to further step-up on concerning issues to ensure proper implementation of the agreement.
He said despite the prior settlement Afghan side is reluctant in depositing the bank guarantee in Pakistani banks and is desperately arguing for crediting it in Afghan banks. He said that in a meeting in Kabul probably in June both the sides would table further recommendations pertaining to these matters. He told a go ahead, related to additional routs for APTTA, has already been given.
He said that to curb smuggling both sides have stressed upon the need to reduce the regulatory duty on exports. To a query, he responded that Pakistani Interior Ministry has been working on the installation of biometric system whereas Federal Bureau of Revenue has almost completed its homework related to bank guarantee and other matters.
He also informed he will represent Pakistan in the next coordination authority meeting while Afghan Trade Minister will be the head of the Afghan team.
