Trade ban not applicable on transit trade, deals made prior to August 09

KARACHI: The Ministry of Commerce has clarified that the ban imposed on all trade with India and of Indian goods does not apply on shipments in pipeline for which LC or BL were issued prior to August 09, 2019.

Moreover, the ban imposed vide SRO 927(I)/2019 and SRO 928(I)/2019 do not affect trade under Afghanistan Pakistan Transit Trade Agreement, 2010.

Ministry in a memorandum noted that concerns have been raised suspension of bilateral trade with India might result into increase in smuggling of Indian goods, import of Indian origin goods through mis-declaration via third countries and smuggling through transit trade.

Ministry of Commerce has advised Federal Board of Revenue to take necessary enforcement measures to prevent mis-declaring and smuggling.

Pakistan downgraded its trade relations with India to the level of Israel with which it has no trade ties at all.

In reaction to India’s decision to revoke Article 370 of its constitution that granted occupied Kashmir a special status, Pakistan downgraded diplomatic relations with India and suspended bilateral trade with it.

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