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Pakistan hit hard by Indian action, reciprocatry measures to be launched

Pakistan hit hard by Indian action, reciprocatry measures to be launched

ISLAMABAD: Parliamentary Secretary for Commerce Shandana Gulzar Khan onWednesday informed the National Assembly that Pakistan’s exports to Indiahad shrunk significantly following the imposition of 200pc duty onPakistani products by the Indian government in wake of the Pulwama incident.

Responding to a calling attention notice in the National Assembly, she saidPakistani exportable products have taken a hard hit amid enhanced Indianduties, adding that Pakistan used to export 98pc of its dried dates toIndia.

“In response, we have also increased duties on certain Indian products. Weare also exploring other markets where Pakistani products could befacilitated,” she added.

It is pertinent to mention that following the Pulwama attack, India hadraised customs duty to 200pc on all the goods it imported from Pakistan.

Economists had said that the decision would significantly hamper Pakistan’sexports to its neighbouring country, which stood at $488.5 million for thefinancial year 2017-18.

India had also withdrawn its Most Favoured Nation status from Pakistan.

“India has withdrawn MFN (most favoured nation) status to Pakistan afterthe Pulwama incident. Upon withdrawal, basic customs duty on all goodsexported from Pakistan to India has been raised to 200 per cent withimmediate effect,” Finance Minister Arun Jaitley had stated in a tweet.

The two main items imported from Pakistan are fruits and cement, on whichthe current customs duty is 30-50pc and 7.5pc, respectively.

Slapping an import duty of 200pc effectively means almost banning theimports from Pakistan, official sources said.

Items which Pakistan exports to India include fresh fruits, cement,petroleum products, bulk minerals and ores, finished leather, processedminerals, inorganic chemicals, cotton raw, spices, wool, rubber, alcoholicbeverages, medical instruments, marine goods, plastic, dyes and sportsgoods.