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Under CPEC, Pakistan and Afghanistan can get mutual benefits: President FPCCI

Lahore, September 6, 2021.: Mian Anjum Nisar, president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has said that CPEC could be a great source of help in providing better access to trade and communication to landlocked Afghanistan, while Pakistan can get a better route for Central Asian republic thus Pakistan can further deepen its cooperation with Afghanistan for the benefit of CPEC. He said that Pakistan was already cooperating a lot in this regard, an example of which was the supply of imported fertilizer to Afghanistan through Gwadar port despite the bad situation of regional security

The Chairman observed that the development of a peaceful Afghanistan and friendly diplomatic relations with it is in the interest of Pakistan and its major ally China and Gwadar Port can play a vital role. To facilitate and better access to international trade to this landlocked country, the provision of services through Gwadar Port under the Pakistan Economic Corridor (CPEC) will open a new chapter of revenue for Pakistan and China as well. In addition, the extraction of Afghanistan’s mineral wealth through China will greatly improve Afghanistan’s economic situation.

The BMP chairman said that Pakistani construction companies could be part of the reconstruction process in the war-torn country and besides Pakistan and China, Russia and Iran were also involved in rebuilding the war-torn economy as well as building infrastructure. Can advance Under a decades-old transit trade agreement, Pakistan could boost economic ties with Afghanistan by providing more goods through two ports in Karachi. Afghanistan will need almost everything for development and much will depend on how Pakistan markets its products and services in the neighboring country. In this way, exports of a number of Pakistani goods can be increased – this is also important because Pakistan’s economy is already facing challenges as it seeks action to get out of the Financial Action Task Force’s (FATF) gray list. The plan is being implemented and efforts are being made to restart the International Monetary Fund’s 6 billion loan program.

In order to curb the devaluation of the Pak rupee, The Pakistani government should also make efforts to gain access to the Afghan government’s foreign exchange reserves, otherwise, the Pakistani rupee could come under further pressure and this situation could encourage smugglers to supply US dollars from Pakistan to traders illegally in Afghanistan. The current account deficit is already very high.

In the last of his point, he mentioned that “We are very optimistic about the current situation and believe that stability in Afghanistan will return as soon as the issues pertaining to form a firm government at Kabul, would be resolved,” .