The Afghan transit trade has significantly slumped in the first five months of the current financial year, a media report said on Wednesday.
From July to November 2024, the Afghan transit trade amounted to 464.6 million dollars, declining by 89% on an annual basis, The New International said.
The Afghan transit trade volume was 2.23 billion dollars in the same period during the previous year, a government official told the newspaper.
In the last fiscal year (2023-24), the volume of Afghan transit trade worked out at 2.887 billion dollars — down from 7.95 billion dollars in 2020-23.
Pakistani authorities tie the falling trade levels to a crackdown on smuggling, but businesspeople cite road closures and the imposition of new taxes as major hurdles.
Concerned at myriad levies, increasing demands for bribes and inordinate delays in clearance of goods, many businesspeople have switched from Karachi to Iranian ports.
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