Pak government approves opening Wagah-Attari trade route

Islamabad, Mar 20 (PTI) The Pakistan government has
approved the start of bilateral trade with India through the
Wagah-Attari road link and the development of infrastructure
to facilitate commerce.

The Economic Coordination Committee (ECC) of the
federal cabinet allowed the commerce ministry to start
bilateral trade with India through the road link during a
meeting chaired by Pakistan's finance ministry chief Shaukat
Tarin Thursday.

The decision was made in light of an agreement between
Pakistani President Asif Ali Zardari and Indian Prime Minister
Manmohan Singh during a meeting on the sidelines of the UN
General Assembly in New York last year.

The ECC advised authorities to implement the proposal
for bilateral trade though the Wagah-Attari road link in a
"phased manner commensurate with parallel development of
infrastructure on both sides of border", an official statement
said.

The ECC also permitted the commerce ministry to
increase the number of items traded between the two countries
from the current figure of 1,938 in a phased manner.

Trade through the road link will initially be
restricted to 14 items.

Subsequently, the route will facilitate the import of
essentials and raw material for export-oriented industries,
media reports said.

The Committee directed the petroleum ministry to cut by
half its demand of gas from the proposed Iran-Pakistan-India
pipeline project, the Dawn newspaper quoted its sources as
saying.

Pakistan’s share from the project is 1.05 billion cubic
feet a day (bcfd), which would now be reduced to 500 million
cubic feet a day because of the refusal by Iranian authorities
to reduce the price of gas, the newspaper reported.

The ECC meeting was told Iran was unwilling to reduce its
demanded price of gas, which is 80 per cent of the price of
crude oil in the international market. Pakistan has asked for
this to be brought down to 68 to 70 per cent of the crude oil
price. PTI RHL
RAI
NNNN