Islamabad:
The Senate Trade Committee discussed on Monday the barter trade system with Iran and listened to complaints from the representatives of commercial agencies about the difficulties they face in trade with the neighboring country.
The committee met with its president Anusha Rehman in the president. It was reported that the committee meeting that 600 charged trucks were trapped on the Pakistan-Iran border because officials demanded the import order.
The member of the committee, Salim Mandviwala, said the food went to Iran from Pakistan under the barter trade. The Secretary of Commerce, Jawad Pal, said the State Bank had made the electronic import form (EIF) mandatory.
However, Mandiwala said this was not import because there was no payment, and added that there was no need for the EIF form. The officials of the Ministry of Commerce said that if the merchants declared their good in book V, their problem would be solved.
Mandviwala said this matter was not so simple. The president pointed out that the statutory regulatory order (SRO) on barter trade was not in operation, while a subcommittee had formed to analyze this problem.
The Secretary of Commerce said that the imported goods under barter trade should be declared first. But Mandviwala said trade could not be solved because merchants could buy anything in exchange for their goods.
The president said that three Indian banks paid Iran in their own currency, therefore, Pakistan should also do the same.
