Integrated check post at Wagah is expected to push volume of trade between the neighbours by five fold.
Leaving bitter memories of Kargil and 26/11 aside, India and Pakistan scripted a new chapter in trade here on Friday when Union home minister P Chidambaram inaugurated an Indo-Pak integrated check post which is expected to push the trade relations between the two nations to new heights.
The annual volume of trade through the Wagah border is about Rs 2,200 crore, including imports worth Rs 750 crore from Pakistan. With the new check post becoming operational, it is expected to shoot up at least four to five times in a major sign of thawing economic relations between India and Pakistan.
“Commerce would be, in the days to come, a new adhesive to bond the two nations and it would be a historic gift to the Punjabis on either side of the border on the day of Baisakhi,” said Pakistan commerce minister Makdoom Amin Fahim
Chidambaram announced that India had mooted a new visa policy, which could allow people on either side of the border to cross over without hassles. He said the policy was awaiting a formal approval of Islamabad.
The home minister also stressed the need to make economic ties stronger between the two nations “as it would open new vistas of understanding and amity”.
Spread over an area of 120 acres, the ICP will be able to handle more than 800 commercial trucks a day, besides providing an independent gateway for travelers.
“We can now handle as many trucks as can move into India from Pakistan. While exporters can also send over 250 trucks a day compared to 100-150 trucks going to Pakistan now,” said RK Duggal, deputy commissioner, Customs.
Pakistan commerce secretary Zafar Mahmood said a new visa regime is expected to be finalized by next month to facilitate movement of businessmen between the two countries. “Everything has been more or less decided for visa for businessmen. Once this is done, we can ease out visa for other people,” Mahmood said.
Asked why Pakistan was not allowing import of more than 137 items through Wagah border, Mahmood said it was primarily because Pakistan did not have infrastructure to cope with the influx of imports from India.
Mahmood said, “At present, we feel that there is a lack of infrastructure on the road route connecting the two countries. However, the number of items on the list will increase once the infrastructure grows.”
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