Pakistan to import sugar and cotton from India, the nation’s Finance Minister Hammad Azhar mentioned on Wednesday, lifting a 19-month-old ban. The Financial Coordination Committee (ECC) at this time allowed the personal sector to import 5 lakh tonnes of white sugar from India, Azhar mentioned.
“In India, the worth of sugar is sort of low cost,” he mentioned. “Therefore, now we have determined to renew sugar commerce with India,” he was quoted as saying by Geo TV. He additionally mentioned that Pakistan will import cotton from India beginning June this yr. “The import of cotton from India was banned and this had a direct impact on our SMEs,” he mentioned. “Nevertheless, on the advice of the Ministry of Commerce, now we have additionally determined to renew the commerce of cotton with India,” he added. The resumption of import of those items will result in partial revival of bilateral commerce relations, the Daybreak newspaper mentioned.
India is the world’s greatest producer of cotton and the second larger sugar producer. Till 2019, Pakistan was one of many main consumers of Indian cotton. Nevertheless, later Islamabad banned imports of products from India after New Delhi revoked the particular standing of Jammu and Kashmir.
This comes a day after Pakistan Prime Minister Imran Khan wrote to Prime Minister Narendra Modi thanking him for conveying greetings on Pakistan Day. Khan talked about Jammu and Kashmir, and peace between India and Pakistan. He mentioned the folks of Pakistan additionally need peaceable, cooperative relations with all neighbours together with India. “We’re satisfied that sturdy peace and stability in South Asia is contingent upon resolving all excellent points between India and Pakistan, particularly the Jammu and Kashmir dispute,” he mentioned.