New Laws Imposed on Traders Associated with Pakistan-China Trade, Businesspeople Must Conduct Transactions Worth 5 Million Rupees Annually
The new SOPs (Standard Operating Procedures) are facing strong opposition, as they are not in favor of traders, says Muhammad Ismail.
Only individuals associated with business should be granted border passes to further strengthen Pakistan-China relations, says Chamber President Rahmat Ali.
ISLAMABAD ( WEB NEWS )
New laws have been introduced for traders associated with Pakistan-China trade, requiring businesspeople to conduct transactions worth at least 5 million rupees annually. Muhammad Ismail, a trader involved in Pakistan-China trade, expressed concerns during a private TV interview, stating that efforts are being made to render individuals associated with this trade jobless. He argued that it is unreasonable for a small business account to hold 5 million rupees, calling it an injustice and a conspiracy to deprive future generations of jobs. He also emphasized that businesspeople are already registered with the Chamber of Commerce and suggested that 4 to 4.5 million rupees should be allocated for small businesses and a more organized system be implemented. Ismail strongly opposed the new SOPs, claiming they are not in the best interests of traders.
Ismail further pointed out that traders face several issues at the Pakistan-China border, where trade is heavily affected by injustice. He mentioned that although several borders with Pakistan are active for trade, the Pakistan-China border is particularly problematic. To address these issues, an all-party meeting is scheduled for February to better plan for resolving traders’ challenges. He also remarked that while all traders at the China border are treated the same, Gilgit-Baltistan, being a disputed region, lacks representation in the National Assembly or Parliament, making it difficult for local voices to be heard, leaving them vulnerable to unilateral exploitation. Ismail disputed the claim that traders from Gilgit are exempt from taxes, clarifying that they too pay all required taxes, unlike local traders at the Torkham border, who enjoy tax-free trading privileges. Additionally, he pointed out that high-ranking officials give border passes to their relatives, which harms local traders. If border passes are granted to people from all over Pakistan, he believes the young traders of Gilgit-Baltistan will be severely impacted and lose their livelihoods.
Rahmat Ali, President of the Hunza Chamber of Commerce, supported the new laws, arguing that traders violate the laws of China or other countries when they visit, leading to negative repercussions for the entire region and country. He stressed that border passes should be granted only to those directly involved in business to strengthen both Pakistan-China relations and commerce. He added that while the 5 million rupee annual transaction requirement is already in place, the baggage situation remains restricted, which is why he supports the new rules to improve the business environment.
The Deputy Secretary of the Gilgit-Baltistan Home and Prisons Department stated that the new SOPs are still in the preparation stages and have not yet been officially issued. However, he mentioned that if someone is involved in business, they should conduct transactions worth at least 5 million rupees annually. He also confirmed that meetings with the Chamber of Commerce and Industry have taken place and that the process of finalizing the SOPs is ongoing.