whatsapp-logo+92 300 859 4219 , +92 300 859 1434

   Cash On Delivery is Available

whatsapp-logo+92 300 859 4219 , +92 300 859 1434

   Cash On Delivery is Available

Federal Cupboard shuts down plans to import cotton, sugar from India

The Federal Cabinet
The Federal Cupboard on Thursday rejected an Financial Coordination Committee (ECC) suggestion to import cotton yarn and sugar from India, sources stated.

The choice to show down the proposal was taken in a cupboard assembly chaired by Prime Minister Imran Khan in Islamabad, hours after Minister for Human Rights Shireen Mazari stated cupboard will evaluation the ECC’s choices associated to commerce with India.

Taking to Twitter, the minister had stated it’s only after the cupboard’s approval that the choice might be thought of “authorised by the federal government”.

“Only for the file — All ECC choices should be authorised by cupboard & solely then they are often seen as ‘authorised by govt’! So at present within the cupboard there might be a dialogue on ECC choices together with commerce with India after which the federal government choice might be taken! The media ought to pay attention to this a minimum of!” Mazari wrote in a tweet.

Yesterday, Federal Finance Minister Hammad Azhar had introduced the federal government’s intention to import sugar and cotton from India.

The choice was seen as an essential milestone within the slowly warming ties between the 2 neighbouring international locations.

The minister, in his first press convention since being given the finance portfolio, had spoken concerning the excessive costs of sugar in Pakistan, noting that the federal government had allowed sugar to be imported from different international locations, however the value of the commodity within the provider international locations had risen significantly.

“Nevertheless, in our neighbouring nation India, the worth of sugar is kind of low-cost,” he stated. “Therefore, we have now determined to renew sugar commerce with India”.

He had stated the measure would assist convey down sugar costs in Pakistan and supply aid to the poor.

Azhar had stated the demand for cotton in Pakistan was additionally growing and the nation wanted the product in a big quantity. He stated Pakistan had not produced high quality cotton final 12 months therefore it had given the inexperienced sign for the product to be imported from different international locations across the globe.

“Nevertheless, the import of cotton from India was banned and this had a direct impact on our SMEs,” he stated.

“On the advice of the Ministry of Commerce, we have now additionally determined to renew the commerce of cotton with India,” he had stated.