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Pak-India trade can be enhanced up to $10b

Pak-India trade can be enhanced up to $10b

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Acting President Mian Tariq Misbah has said that the trade volume between India and Pakistan can be increased up to $10 billion. He said that non-tariff barriers, difficulty in visa issuance and other problems faced by traders should be controlled to enhance trade. He said that improvement in trade between the two countries would benefit the people across the border. Mian Tariq said the LCCI had demanded the government take more effective steps to control under-invoicing, as smuggling and under-invoicing were hitting the national exchequer hard. “There is billions of dollars under-invoicing which is causing hug losses to the national exchequer in the shape of duties and taxes”, he said. He said the LCCI had constituted a committee to prepare recommendations for controlling under-invoicing which would be forwarded to the Ministry of Finance for action. To a question on rupee-dollar disparity, he said that there should be a ban on the business of `Hundi’ in the country. The inter-bank transfer of dollar should also be monitored strictly, he said.