PESHAWAR: The Afghan Taliban on Wednesday announced reduction in customs duty on 159 items in Afghanistan – most of food items – which is expected to reduce prices in the market.
Afghan businessman Hekmatullah said, the reduction in customs duties will reduce the prices of food items, construction materials and electronic products, which were high mainly due to the high customs duty. He said that besides general public, the reduction in customs duty will also benefit the traders.
But he said that such announcements depend on the law and order situation in Afghanistan. He said, “The improved law and order situation can boost the confidence of traders as well as the general public.” He added that favourable business environment will create job opportunities but without a conducive environment, neither the traders nor the general public will benefit from such announcements.
A growing trade
After the changing situation in Afghanistan, there were fears of reduction in Pak-Afghan bilateral and transit trade however; yesterday the number of trade vehicles has increased. The repatriation of stranded Afghan also begun while according to customs officials, trade on the Pak-Afghan border has almost tripled since Taliban have controlled Kabul.
Fazlullah, a customs clearance agent at the Torkham border, said when the Taliban took control of the Torkham, we feared that trade would decline, but contrary to our expectations, there has been huge increase in bilateral trade. He said that earlier the number of imports vehicles in 24 hours was not more than 60 to 70 vehicles “as the farmer Afghan government agencies did not want better trade relations”. He said that after the collapse of former government the number of trade vehicles in 24 hours has increased on 270.
The traders said that it is not yet clear how the prices announced by the Taliban will be implemented, but until the government is formed, the people will set their own price-list. Traders said the Afghan currency has depreciated sharply since Ashraf Ghani’s departure, prompting traders involved in Pak-Afghan trade to avoid ordering goods. Traders said now the Afghan currency is strengthening against the dollar again, but Traders’ confidence has not yet been restored.