LAHORE: The country’s imports from India through the land route crossing Wagah-Attari border between the two countries dropped Rs9.625 billion to Rs24.558 billion during the last fiscal year, showed the official data.
Pakistan mainly imports soybean, raw cotton, fresh tomatoes, onions, buffalo meat, plastic granules and carbon dioxide from India.
The major decline was recorded in the imports of soybean as Rs63 million was spent on its import in 2015/16 as against Rs11.749 billion in 2014/15, showed the data compiled by the Federal Board of Revenue (FBR).
Chairman Abdul Basit at Big Bird Group, a leading soybean importer, said Pakistanis businessmen are searching for alternative import destinations due to tense relationship between neighbouring Pakistan and India.
“This year huge quantity of soybean was imported from Argentina due to the much better quality and price,” Basit said.
A business leader Aftab Ahmed Vohra said international soybean prices are on the downward trend. Besides, Pakistan’s agriculture sector performed relatively well during the last one and half year, which reduced dependency on the Indian vegetable, Vohra said.
Cotton import, however, substantially increased following the low crop output in the country. Local textile industry imported Rs13.637 billion worth of cotton from India during the last fiscal year as compared to Rs2.968 billion in the preceding fiscal year.
The FBR data showed that the country imported Rs5.725 billion worth of tomatoes during the last fiscal year as compared to Rs8.928 billion in the preceding fiscal year. Only Rs265 million worth of other vegetables were imported as against Rs6.478 billion previously.
Import of buffalo meat (boneless) amounted to Rs96 million in 2015/16 as compared to Rs49 million in 2014/15. Import of plastic granules declined to Rs862 million from Rs2.670 billion. Import of carbon dioxide also declined to Rs69 million from Rs134 million.
Through Wagah-Attari border, the country exported Rs1.289 billion of rock gypsum in the last fiscal year as compared to Rs1.371 billion in the preceding fiscal year. Dry date imports stood at Rs6.032 billion as against Rs5.567 billion, soda ash (Rs986 million from Rs954 million), rock salt (Rs215 million from Rs121 million), hydrogen per oxide (Rs90 million from Rs203 million), caustic soda (Rs64 million from Rs3 million) and cement (Rs1.673 billion from Rs2.042 billion).
“Only 138 items are allowed from Wagha-Attari land route, which need to be increased without any further delay,” Vohra said.
He said the balance of bilateral trade is still in favour of India and Pakistan needs to increase the exportable items through land route. “Increasing the number of export able products from Wagha-Attari land route will create opportunity for Pakistani products to reach in Indian markets which currently are not feasible and cost-effective through sea route,” he added. “This will strengthen the concept of regional economy.” www.thenews.com.pk/print/134089-Imports-from-India-through-land-drop-Rs96-billion-in-201516
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