LAHORE: Pakistan China Joint Chamber of Commerce and Industry (PCJCCI) welcomed initiative of Pakistani and Chinna governments to reopen the Khunjerab Pass after three years.

During think tank session held at PCJCCI Secretariat, PCJCCI President Moazzam Ghurki said reopening of Pass that connects Gilgit-Baltistan with China’s Xinjiang Uyghur Autonomous region would resume bi-lateral between two countries.

He recalled that in 2019 trade volume between China and Pakistan surged by nearly 47 percent to $ 856.3 million but due to closure national exchequer suffered around Rs 8 billion revenue losses as CPEC-related shipments halted following border closure.

Hundreds of people affiliated with Pakistan-China Border trade faced economic hardship following suspension of trade and travel between two countries through Khunjerab pass, Ghurki added.

Fang Yulong, senior Vice President of PCJCCI said Khunjerab Pass lies on strategic Karakoram Highway (KKH), which is part of multibillion-dollar China-Pakistan Economic Corridor (CPEC) project. Port is extremely important platform and is considered to be an important link to China’s flagship Belt and Road Initiative (BRI). He informed participants that trade at Khunjerab Pass is conducted through newly-introduced Web-based One Customs (WeBOC) system. Government believed that trade would be much easier after WeBOC as it would align Sust Dry Port with all modern infrastructure in dry ports across country, Yulong added.

Hamza Khalid, Vice President of PCJCCI said reopening of border crossing is expected to boost economic activities between two countries.

PCJCCI Secretary General Salahuddin Hanif said reopening of Pass has removed hurdle that would further expedite pace of work on China-Pakistan Economic Corridor. He appreciated relevant authorities and team members over restoration of trade and travel facility.

Published in The Daily National Courier, April, 05 2023

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