Pakistan Halts Import of Indian Cotton and Sugar, Says Source
Published on: May 5, 2024.
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Pakistan Puts Import of Cotton and Sugar from India on Hold
ISLAMABAD, April 1 (Reuters) – In a recent development, Pakistan’s cabinet, chaired by Prime Minister Imran Khan, has decided to put on hold the decision made by the country’s top economic decision-making body to allow imports of cotton and sugar from neighbouring India, according to a source.
The Economic Coordination Committee of Pakistan had recently given the approval for these imports in an attempt to address local demand and stabilize prices. This decision was significant as it would have marked the end of a nearly two-year trade suspension between the nuclear-armed rivals.
However, the government has now decided to reevaluate this decision and put it on hold. The reasons behind this move have not been disclosed, but it reflects a shift in the country’s policy towards its relationship with India.
Importing cotton and sugar from India would have had a positive impact on Pakistan’s economy. It would have allowed local industries to access raw materials, potentially boosting production and reducing prices for consumers. Additionally, it would have enabled trade between the two countries, opening up opportunities for economic cooperation.
It is important for Pakistan to carefully consider the implications of this decision, as it could have consequences for the agricultural sector and trade relations with India. Pakistan’s cotton industry has been struggling in recent years, and importing cotton from India could have provided much-needed relief to the sector.
This decision also comes at a time when Pakistan is facing rising inflation and food prices. The import of sugar from India could have helped stabilize prices and ensured an adequate supply for the country’s consumers.
While the reasons behind this suspension are not yet clear, it is evident that Pakistan is reevaluating its economic policies and trade relations with India. The future of trade between the two countries remains uncertain, but it is crucial for both nations to find ways to promote economic cooperation and address bilateral issues.
Source: [The Sun](https://thesun.my) (Note: The link will open in a new window)
