Why Pakistan resumed import trade from India?
Federal Finance Minister Hammad Azhar on Wednesday declared the government’s decision to import sugar and cotton from India.
In his first press conference since taking over the finance portfolio, the minister spoke about Pakistan’s high sugar prices, stating that although the government had allowed sugar to be imported from other countries, the price of the commodity in those countries was also high.
“However, in our neighboring country India, the price of sugar is quite cheap,” he said. “Hence, we have decided to resume sugar trade with India”.
According to him, the measure would help lower sugar prices in Pakistan and provide relief to the people.
According to Azhar, the demand for cotton in Pakistan is also rising, and the country requires a large quantity of the crop. He clarified that since Pakistan did not grow high-quality cotton last year, the country had provided the go-ahead for the crop to be imported from other countries.
“However, the import of cotton from India was banned and this had a direct effect on our SMEs,” he said. “However, at the recommendation of the Ministry of Commerce, we have also decided to resume the trade of cotton with India,” he said.