Pakistanis traders are bearing the losses caused by border closure more than Afghans, a Pakistani official has said.
The Federation of Pakistan Chamber of Commerce and Industry said that traders from both the countries have been losing about $4 million a day due to the border closure, which happened over a month ago.
Ahmad Jawad, the chairman of the federation’s regional standing committee on horticulture exports, said that 80 percent of those losses are borne by Pakistani traders, The Nation reported.
According to the official, Pakistan had expected to export 300,000 tons of kinnow to Afghanistan and Central Asian states this year. However, the target couldn’t be achieved due to the border closure, he said.
“The rising tensions between the two countries and the drawdown of the U.s.-led coalition forces have already caused a huge drop in our exports to Afghanistan from $2.5 billion to $1.3 billion,” he said. “The exports are expected to go down further with the growing uncertainty caused by this new low in relations between two countries.”
The official added that the Pakistani government is also losing “huge revenue” because of the closure of the border as 500 trucks on average used to cross the border every day paying 10,000 Pakistani rupees each in customs duty and transit fees.
“The cumulative losses to the economy by this irrational action and incalculable are incalculable and it would be extremely difficult to retrieve the situation,” he said.