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Afghanistan Reduces Custom Duties on Construction Materials; Trade Volume Doubles

According to news sources, the number of cargo trucks crossing the Torkham Boarder has surged from 70 to 270 in the past 36 hours as a result of the shifting political scenario in Afghanistan.

Read: Pakistani Rupee Falls to All-time Low of RS. 252 Against Us Dollar

Customs authorities have indicated that trade at the Pak-Afghan border has increased since the new forces took control of the Afghan capital in a peaceful manner.

In addition, the new administration forces in Afghanistan have announced a reduction in customs duty on 159 commodities, including cement, glass, steel, and food, among others. The decrease in customs tax will also reduce the cost of construction materials in Pakistan.

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Reportedly, the reduction of customs duties will also affect the prices of gasoline, fuel, electronics, and consumables imported into and exported from Afghanistan. The event will result in a 50-90 percent price decline.

The new administration has declared that the reduction of customs taxes will cut the high prices of vital goods, foster commerce and trade, and generate new employment possibilities.

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