Pakistan can consider restarting imports from India: Finance Minister Miftah Ismail

Pakistan is likely toconsider re-establishing trade ties with India, as per Finance Minister Miftah Ismail. If this becomes a reality, it would represent a major policy shift for Pakistan.

Pakistan's Finance Minister Miftah Ismail, in response to a question in a press conference on Monday (August 29) stated that his ministry is coming up with a proposal to allow imports of vegetables to create stability incommodity market. He added that he is considering opening land route for import from India.

He said he would “consider importing vegetables and other edible items from India” to provide relief topeople after destruction of crops due to recent floods in the country.

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Later, During an informal conversation with the media, he said that he would trade with India after taking stock of the condition of Pakistani farmers.

Pakistan formally downgraded its trade relations with India in August 2019 to the level of Israel with which Islamabad has no trade ties at all. The decision had come as a reaction to India’s decision to revoke Article 370 of its constitution that granted Jammu and Kashmir a special status.

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According to a source, former security adviser Moeed Yousuf was working on aproposals about possible trade with India. On record, former commerce adviser Razak Dawood also spoke on several occasions in support of resumption of trade with India.

In March 2021, the Economic Coordination Committee (ECC) had announced that it would allow the private sector to import 0.5 million tonnes of white sugar from India and cotton via the Wagah border. However, the decision was reversed within days following severe criticism from the main opposition parties - PML-N and PPP - whichare now in thecoalition government.

Also Read | International aid reaches flood-stricken Pakistan; death toll crosses 1000-mark

After a new federal government took office this year, the Ministry of Commerce in May had ruled outpossibility of a resumption of stalled bilateral trade.

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