ISLAMABAD, Nov 17: The value of Afghan Transit Trade (ATT) has increased by more than 58 per cent during the first four months (July-October) of the current financial year over the same period of last year.

Official statistics made available to Dawn on Monday showed that the value of ATT stood at Rs7.677 billion during the July- Oct period of the current financial year against Rs4.843 billion during the same period last year, indicating an increase of 58 per cent.

The value of goods imported for ATT rose by more than 43 per cent during the period under review when compared with the value of Rs5.343 billion worth of goods imported during the same period of 2001-02.

On monthly basis, the statistics showed that the ATT value stood at Rs1.979 billion during the month of October 2003 against Rs0.298 billion over the corresponding month of last year, showing an increase of 564 per cent.

An official source in the Central Board of Revenue (CBR) on Monday attributed the massive increase in the imports under ATT to removal of 8 items from the negative list.

He further said that reduction in the railway freight charges has been another incentive for the Afghan importers to import goods under ATT.

The removal of six more items from the ATT negative list was under consideration, which, he said, would be finalized soon. Currently, only 16 items are banned for ATT related imports.