Federal cabinet approves air-road corridor for Afghan transit trade

ISLAMABAD: The federal cabinet has approved a multi-model air-road corridor to facilitate the Afghan transit trade besides signing an agreement on trade in goods between Pakistan and Turkiye.

Prime Minister Shehbaz Sharif chaired the session of the federal cabinet today. The cabinet members discussed the economic and political situation of the country.

The premier was told that steps are underway to bring down the dollar price and the Pakistani rupee will stabilise in the next month. He was briefed that the exports are likely to be increased in the coming days due to the effective policies of the federal government.

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The premier was apprised that steps are being taken to ensure the increase in industrial production and agriculture development.

The cabinet accepted the resignation of the chairman of the Federal Land Commission Babar Yaqub Fateh. The cabinet also approved the disbursement of funds to the Afghanistan government for the operations of the Pakistani hospitals.

The cabinet also approved the decisions of the Economic Coordination Committee (ECC). The premier directed the constitution of a committee to recommend names of the board of governors of the State Bank of Pakistan (SBP).

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The cabinet also approved multi-model air-road corridor to facilitate the Afghan transit trade and signing of an agreement on trade in goods between Pakistan and Turkiye, according to Radio Pakistan.

Under the Trade in Goods agreement, both Pakistan and Turkiye will have greater access to each other’s services and fields of investment. Turkiye will provide Pakistan concession to 261 tariff lines, including 123 goods with zero rating while, Pakistan will give Turkiye concession on 130 tariff lines, including goods of eight large sectors like agriculture, chemical, tanning, plastic, rubber, engineering and metal industries. This will enhance the volume of bilateral trade to $5 billion.