Islamabad:
The Senate Commerce Commerce Committee discussed the barter trading system on Monday with Iran and heard the complaints of representatives of the commercial organizations concerning the difficulties encountered by them in trade with the neighboring country.
The committee met its president Anusha Rehman to the president. The Committee meeting was informed that 600 loaded trucks were stuck on the Pakistani-Iranian border because the officials demanded an import order.
Committee member, Salim Mandviwala, said food went to Iran from Pakistan under the barter trade. The Secretary of Commerce, Jawad Pal, said that the State Bank had rendered the electronic import form (EIF) compulsory.
However, Mandviwala said it was not an importation because there was no payment, adding that there was no need for the EIF form. Officials of the Ministry of Commerce said that if traders declared their property in the V-Book, there would be a problem.
Mandviwala said that this case was not as simple. The president noted that the statutory regulatory order (SRO) on the barter trade did not work, while a subcommittee had been trained to examine this issue.
The Secretary of Commerce said that goods imported under the barter trade should be declared first. But Mandviwala said that trade could not be fixed because traders could buy anything in exchange for their goods.
The president said that three Indian banks had paid Iran in their own currency, therefore, Pakistan should also do the same.
