Trade regime with India unchanged despite strains in relationship, says PakistanPakistan’s Commerce Minister Khurram Dastgir has informed that Islamabad has not changed the trade regime with India despite strains in their relationship.
Pakistan’s Commerce Minister Khurram Dastgir has informed that Islamabad has not changed the trade regime with India despite strains in their relationship.
Dastgir said that his government has not issued any notification regarding the same and there is no restriction on trade ties.
The minister’s remark holds significance as it comes in the backdrop of reports that a huge quantity of Indian raw cotton was stopped at Karachi Port as Pakistan suspended the import of cotton and other agriculture commodities, including vegetables.
The minister, however, said that the government has limited the import of cotton through Wagah Border to 500,000 bales in a year while there is no such restriction at Karachi Port.
The government, he said, should instead ban value-added products from India in a bid to protect the local textile industry.
The local textile industry was in a dilapidated condition and its exports were on the decline due to a number of issues including high prices of gas and electricity, high tariffs on import of input materials, lack of progress on restructuring of bank loans and failure to revive sick units.