Khyber Chamber of Commerce Calls for Urgent Reopening of Torkham Border Amidst $2.5 Billion Economic Loss

The President of the Khyber Chamber of Commerce in Pakistan has announced that the closure of the Torkham border has inflicted $2.5 billion in damage to the country’s economy and called for the immediate reopening of this vital crossing.

Significant Economic Loss for Pakistan

Yusuf Afridi, the President of the Khyber Chamber of Commerce and Industry, stated during a press conference in Landi Kotal that the prolonged closure of the Torkham border with Afghanistan has led to an estimated $2.5 billion loss for Pakistan’s economy. He urged for the immediate reopening of this border crossing, emphasizing that continued closure could have irreparable consequences.

Economic Consequences of the Border Closure

Afridi indicated that the Torkham border has been closed for nearly a year, resulting in a projected decrease of $1.644 billion in exports and $817 million in imports. He further noted that the closure has also led to a loss of 7.7 billion Pakistani Rupees in state tax revenues.

Social and Employment Effects

The President of the Khyber Chamber of Commerce highlighted that this situation has not only impacted bilateral trade but has also resulted in the loss of jobs for thousands of traders, shopkeepers, laborers, and customs agents. He stressed that border restrictions pose a threat to the livelihoods of local communities on both sides of the border.

Breach of Promises and Government Plans

Afridi referenced previous commitments made by Pakistan’s Interior Minister, who had indicated that a joint meeting in Peshawar would take place to address border issues and resume trade. However, Afridi stated that these promises have yet to be fulfilled. He reiterated the urgent need for action to mitigate damages and restore trade relations.