Hammad Azhar decides to resume sugar trade with India, as the price of sugar is quite cheap .
Pakistan allowed the private sector to import 0.5 million tones of white sugar from India, Finance Minister Hammad Azhar said, “ ending a nearly two-year ban on their import for their neighboring countries. The country will also start importing cotton from June, this year, this year because the low yield of cotton bales in Pakistan has created problems “.
The meeting talks about 21 items on the agenda, including the import of cotton and sugar from India, The decision by Pakistan to allow trade in the selected items will gradually lead to restoration of normalcy in India-Pakistan trade, The ministry has also sought permission to allow the import of white sugar from India through the trading corporation of Pakistan and commercial importers.
The textile division of the commerce ministry has requisitioned permission for the ECC to lift a ban on the import of cotton and the country yarn from India in a bit to bridge raw material shortfall for the value-added textile sector.
The resumption of import of these goods will lead to a partial revival of trade relation. Pakistan has suspended trade with India on August 9, 2019, in reaction to the latter‘s decision to revoke article 370 of its constitution that granted Jammu and Kashmir special status.
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