Pakistan decides to retaliate back hard against Indian move of revoking MFN status
*ISLAMABAD - **Pakistan decides to retaliate back hard against Indian move of revoking MFN status, it has been revealed.*
*Prime Minister’s Advisor on Commerce Razak Dawood on Friday said Pakistan would consider all available choices to retaliate after the India’s decision to withdraw the status of Most Favoured Nation (MFN) for Pakistan.*
“Pakistan may revoke concessions to India under the South Asia Preferential Trade Agreement (SAPTA) and may also take up the issue in the World Trade Organisation,” Razak Dawood said while talking to media at the office of the Board of Investment.
New Delhi revoked its MFN status to Pakistan on Thursday, after the attack on Indian forces in Pulwama. The neighbouring country had granted this status to Islamabad in 1995.
MFN status is accorded by one state to another in international trade under the WTO. It means that a country will treat all WTO member states equally in matters of tariffs on imports.
Indian Finance Minister Arun Jaitley announced the decision to withdraw the status while briefing the media in Delhi, reported NDTV.
He said that India will take all diplomatic measures to ensure complete isolation of Pakistan in the international community.
On February 14, at least 44 Indian soldiers were killed in a bomb attack on a paramilitary convoy in India-occupied Kashmir.