Pakistan allows import of cotton, cotton yarn from India
Pakistan’s Economic Coordination Council (ECC) today permitted the import of cotton and cotton yarn from India. Lifting an almost-two-year-old ban.
The proposal was presented before the top committee for approval at a meeting held by the Ministry of Commerce.
The Economic Coordination Council (ECC) met today and decide to allow the import, which is being viewed as a push to resume Indo-Pak Trade.
The ECC permitted the private sector to import 0.5 million tons of white sugar too, as per Pakistani media reports.
Pakistan is considering tapping the global sugar market, moving two tenders for 50,000 tons in the last month. It rejected bids on both tenders in March 2021.
Until August 10, 2019, when Islamabad imposed a ban on imports of merchandise from India after New Delhi revoked the special status of its portion of the Kashmir region that both the countries claim. Pakistan was one of the principal buyers of Indian cotton
On March 29, PM’s advisor on Commerce and Investment Abdul Razak Dawood got authorization from Prime Minister of Pakistan, Mr. Imran Khan to import cotton and yarn through land-route (Including India) to fulfill domestic demand and cut down the costs in the domestic market