KARACHI (APP) - President of Karachi Chamber of Commerce and Industry Abdul Majid Haji Muhammad Saturday called for revision and renegotiation of Pak-Afghan Transit Trade Agreement (ATTA). Abdul Majid stated that the ATTA has been massively abused by the unscrupulous elements to import products way above their actual demand in Afghanistan meant only to push back the products into Pakistan, said a press release issued by KCCI on Saturday. Abdul Majid articulated that the ATTA resulted in an illegal smuggling in more ways than one and the majority of the imported products booked for Afghanistan, never reached Afghanistan after being re-routed in the border areas of the Province Khyber and Balochistan bordering with the country. It has been observed that several Afghanistan-bound containers with goods imported under the ATTA are diverted to Pakistani markets from Quetta and Torkhum and every day hundreds of imported products are disseminated in Pakistani markets resulting colossal losses to the legal importers who pay high duties to the government. Due to ATTA, Abdul Majid voiced, local manufacturing but also the legal imports are undermined. This, in turn, also deprives the government of substantial loss in terms of investment, corporate taxes and duties, he said. The President KCCI said, Government should consider to rationalize the Afghan Transit Trade Tariff in equivalence to Pakistan Duty Tariffs to safeguard the business of Pakistans legal importers and to increase governments revenue. Abdul Majid said that there are many landlocked countries in the world and their trade is done through transit trade agreements with neighboring countries vis-a-vis Nepal and Bhutan with India, Austria and Italy. He demanded for revision of ATTA in line with the Transit Trade Agreement of India with Bhutan and Nepal coupled with product identification and restriction. Abdul Majid claimed that ATTA is taken up with high-ups at Islamabad and KCCI urging the government to resolve the issue while taking the stakeholders and KCCI into confidence. He said that KCCI is regularly attending the meetings at Islamabad con cerning ATTA to identify the modalities and providing productive input to protect the legal rights of importers and to enhance the revenue generation for the government.