LAHORE: The new trade policy, which would be announced in a few days, will include major incentives for value addition in exports, Commerce Minister Khurram Dastgir Khan said on Tuesday.

Speaking with media at the Lahore Chamber of Commerce and Industry, he said that Rs6 billion was approved by the parliament and framing of all procedures/processes was done in this regard.

Responding to a question on the Afghan Transit Trade Policy, he acknowledged the Federal Board of Revenue and Customs were responsible for plugging in leakages in transit trade from Karachi to Chaman.

The commerce ministry in association with the finance ministry was going to build infrastructure of Land Port Authority to regulate Torkhum and Chaman borders, he said.

Pakistani trucks carrying exports good to Central Asian states were allowed to go without paying any duty to Afghan authorities after amendment in the Afghan Pakistan Transit Trade Agreement (APTTA), he said.

He said Pakistan had signed the Convention of International Transport of Goods under cover of UN’s TIR Carnets (TIR Convention) two months ago after which Afghan government allowed Pakistani truckers to move their transit shipments without paying any duties.

Stressing the need of strengthening the agriculture sector, the commerce minister said the government was ready to introduce Plant Breeders Rights Act and National Plant and Safety Act in the parliament for introducing latest food technologies in the country.

Published in Dawn, March 9th, 2016