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Pakistan likely to import cotton from India
Pakistan likely to import cotton from India
It seems that the halted trade ties between India and Pakistan are on the verge of gradual restoration with Pakistan likely to import cotton from India
Islamabad: It seems that the halted trade ties between India and Pakistan are on the verge of gradual restoration with Pakistan likely to import cotton from India. After the announcement of a ceasefire along the Line of Control (LoC) to maintain peace at the border between India and Pakistan, the Pakistan government may also be allowing imports of cotton from India in the coming days.
The breakthrough in the 2003 ceasefire agreement on the LoC has provided an opportunity to the commerce ministry to revisit the decision and as per details shared by the Pakistan government sources, Islamabad may be importing cotton from India.
"The advisor may take a decision on whether to import cotton and yarn from India next week," confirmed an official from the federal ministry of commerce.
"Once the principal decision is taken, a formal summary will be presented before the Economic Committee of the cabinet," the official added. Sources also confirmed that deliberations over the restoration of cotton and yarn import in the first phase from India are already underway. However, decision would be taken after Prime Minister Imran Khan gives approval on the summary, as he also holds the portfolio of the commerce minister.
This will be a major development since Pakistan had severed trade ties with India in protest against Modi government's decision to change the special status of Jammu and Kashmir, abrogating Article 370 and 35A. Pakistan maintains that any unilateral decision to change the special status of the Jammu and Kashmir is illegal and in violation of the UN resolution.
