Pakistan approves import of cotton, sugar from India

Pakistan to resume bilateral trade with India after an economic committee gave the green signal. The nation is all set to import cotton, cotton yarn and sugar from India from June 30, 2021. The announcement was made by newly appointed finance minister Hammad Azhar in a press conference in Islamabad on Wednesday lifting a nearly 19 months ban on imports from India.  Azhar said that Pakistan’s Economic Coordination Committee (ECC) allowed the private sector to import five lakh tonnes of white sugar from India.

In India, the price of sugar is quite cheap," he was quoted as saying by Geo TV. "Hence, we have decided to resume sugar trade with India," he added. Azhar also announced that Pakistan will start importing cotton from India starting June this year. Azhar said that the ban of cotton imports from India had a direct impact on the country’s small and medium industries. "However, at the recommendation of the Ministry of Commerce, we have also decided to resume the trade of cotton with India," he added. Pakistan had downgraded diplomatic relations and suspended bilateral trade with India in August 2019 after India’s move to revoke the special status of J&K in August 2019. 

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 said the people of Pakistan also desire peaceful, cooperative relations with all neighbours including India. “We are convinced that durable peace and stability in South Asia is contingent upon resolving all outstanding issues between India and Pakistan, in particular the Jammu and Kashmir dispute,” he said.