Imran Khan (Photo Credits: Facebook)
Islamabad: Pakistan’s Economic Coordination Committee has finally given its approval to trade with India after suffering from inflation. Pakistan had halted its trade relations with India after the Balakot Airstrike in February 2019. Recently, the Ministry of Textiles under the chairmanship of Pakistan Prime Minister Imran Khan had recommended the removal of ban on import of cotton from India to meet the shortage of raw materials in the country’s textile sector. Pakistani terrorist sentenced to 10 years in prison for plotting attacks in India
The Dawn News quoted government sources as saying that the Ministry of Textile Industry has sought permission from the Cabinet’s ECC (Economic Coordination Council) to lift the ban on the import of cotton and cotton yarn from India. Which was stamped today. Actually, due to low cotton production in Pakistan, it became a compulsion for Pakistan to import cotton from India.
Pakistan’s Economic Coordination Council allows the import of cotton and yarn from India, reports Reuters quoting sources pic.twitter.com/I3SGsKcqtV
– ANI (@ANI) March 31, 2021
Due to shortage of cotton and yarn, the manufacturer in Pakistan was forced to import cotton from the United States, Brazil and Uzbekistan, due to which the cost was greatly increased. Import of cotton from India is very cheap for traders in Pakistan. While it reaches Pakistan within three to four days, importing cotton yarn from other countries is not only expensive, but also takes one to two months to reach Pakistan.
It is noteworthy that the Indian and Pakistani forces had announced on February 25 that they had agreed to strictly follow all the agreements on ceasefire along the Line of Control (LoC) in Jammu and Kashmir and other sectors. Due to which recently the tension between India and Pakistan has reduced. (With agency input)