Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week.
Importing yarn from other countries was not only expensive but would also take one to two months to reach Pakistan, while imports from India would reach within three to four days.
Pakistan may import Indian cotton
Prospects of gradual restoration of trade increase after deal to maintain peace
Due to shortage of cotton and yarn, the users were compelled to import the commodities from the United States, Brazil and Uzbekistan. PHOTO: FILE
ISLAMABAD:
The prospects of gradual restoration of trade ties with India have suddenly increased after a deal to maintain peace at Line of Control and the government may, in the first phase, allow the cotton import through land route.
Just two weeks ago, Adviser to the Prime Minister on Commerce Abdul Razak Dawood had ruled out the possibility of importing cotton from India to bridge the yawning domestic shortfall. But a breakthrough over 2003 ceasefire agreement on the Line of Control between Pakistan and India has provided an opportunity to the commerce ministry to revisit the decision.
Pakistan may resume import of cotton from India: Report
PTI
Islamabad |
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Pakistan may allow cotton import from India through land route as prospects of gradual restoration of bilateral trade ties have brightened after the new ceasefire agreement along the Line of Control, according to a media report on Sunday.
Citing sources in the Ministry of Commerce,
The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week.
They said that the issue of cotton shortfall has already been brought to the notice of Prime Minister Imran Khan, who also holds the portfolio of the commerce minister. Once a principled decision is taken, a formal order will be presented before the Economic Coordination Committee of the Cabinet, the sources told the daily.
Pakistan likely to resume import of cotton from India
There is a minimum shortfall of six million bales and Pakistan has so far imported roughly 688,305 metric tonnes of cotton and yarn, costing $1.1 billion, according to the Pakistan Bureau of Statistics
PTI | February 28, 2021 | Updated 16:09 IST
Pakistan may allow cotton import from India through land route as prospects of gradual restoration of bilateral trade ties have brightened after the new ceasefire agreement along the Line of Control, according to a media report on Sunday.
Citing sources in the Ministry of Commerce, The Express Tribune reported that Adviser to the Prime Minister on Commerce Abdul Razak Dawood may take a decision on whether to import cotton and yarn from India next week.