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Pakistan to Import Sugar, Cotton from India: Finance Minister Hammad Azhar

Pakistan to Import Sugar, Cotton from India: Finance Minister Hammad Azhar
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Pakistan to Import Sugar, Cotton from India: Finance Minister Hammad Azhar

Pakistan to Import Sugar, Cotton from India: Finance Minister Hammad Azhar

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Islamabad: Pakistan will import sugar and cotton from India, newly appointed Finance Minister Hammad Azhar introduced on Wednesday, lifting an almost two-year outdated ban on their import from the neighbouring nation. The Financial Coordination Committee (ECC) on Wednesday allowed the non-public sector to import 5 lakh tonnes of white sugar from India, Azhar stated. Additionally Learn – Pakistan’s Financial Coordination Council Permits Import of Cotton, Yarn From India

“In India, the value of sugar is kind of low cost,” he stated. “Therefore, we’ve got determined to resume sugar commerce 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. Additionally Learn – Blind Cricket: India, Pakistan to Play in Three-Nation T20 Sequence in Dhaka

“The import of cotton from India was banned and this had a direct impact on our SMEs,” he stated. “Nonetheless, on the advice of the Ministry of Commerce, we’ve got additionally determined to resume the commerce of cotton with India,” he added. Additionally Learn – Pakistan to be Banned by FIFA For Lengthy

The resumption of import of those items will lead to partial revival of bilateral commerce relations, the Daybreak 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 Excessive Commissioner in Islamabad. Pakistan additionally snapped all air and land hyperlinks with India and suspended commerce and railway providers.

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