Border trade volume declines to 3 crore

IMPHAL, March 18: The transaction volume of the Indo-Myanmar border trade has come drastically to an all time low of just Rs 3 crore from the earlier Rs 70 crore involved annually. Officials have attributed the decline to the hike of custom duty on the trade items. Talking to media persons in Moreh yesterday one official of the border trade expressed hope that the decline would be checked as the Customs duty has been reduced by 10 percent after the introduction of the Union Budget in the Parliament. He said the trade method continues to be in the barter system but the rate of export is greater than import. The major items exported from India are bleaching powder, wheat, suma rose powder and soya bori while rajma, dry ginger, garlic and betel nut are imported. The officer said the Departments of Land Customs, Taxation and Forest are imposing tax on the trade items. Eighty percent of the tax received through the Land Customs goes to the State exchequer. Five check posts have been set up in between Moreh and Pallel. Meanwhile, Commerce and Industries director P Vaiphei during a meeting at Moreh Police IB yesterday announced that the Government has plans to expand the road from Moreh Forest Gate No 1 and 2 and to install street lamps under the Critical Infrastructure Balance Schemes (CIBS). He said the Union Ministry of Commerce and Industries has already sanctioned Rs 95 lakh in the later part of last year. However, works could not be started as the Finance Department failed to release the amount in view of the economic crisis of the State. Once the fund has been released, it will be deposited to the departments concerned for taking up the scheme, he added.