Pakistan will import sugar and cotton from India, newly appointed Finance Minister Hammad Azhar introduced on Wednesday, lifting a virtually two-year previous ban on their import from the neighbouring nation.
The Economic Coordination Committee (ECC) on Wednesday allowed the personal sector to import 5 lakh tonnes of white sugar from India, Mr. Azhar stated.
“In India, the price of sugar is quite cheap,” he stated. “Hence, we have decided to resume sugar trade with India,” he was quoted as saying by Geo TV. He additionally stated that Pakistan will import cotton from India beginning June this 12 months.
“The import of cotton from India was banned and this had a direct effect on our SMEs,” he stated. “However, at the recommendation of the Ministry of Commerce, we have also decided to resume the trade of cotton with India,” he added.
The resumption of import of those items will result in partial revival of bilateral commerce relations, the Dawn newspaper stated.
India’s transfer to revoke the particular standing of Jammu and Kashmir in August, 2019 angered Pakistan, which downgraded diplomatic ties with India and expelled the Indian High Commissioner in Islamabad. Pakistan additionally snapped all air and land hyperlinks with India and suspended commerce and railway providers.