Sunday, 26 May 2024
Imports From India Sugar Cotton By Pakistan

Federal Cabinet Rejected Summary of Sugar and Cotton Imports from India

On Thursday, the federal cabinet rejected a summary of sugar and cotton imports from India.

According to media reports, a meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Imran Khan in which the Prime Minister was present through video link.

The meeting of the Federal Cabinet considered the Economic Co-ordination Committee’s (ECC) recommendation to import sugar and cotton from India. In which the ECC had recommended importing sugar from India at cheaper and economical rates. But in the meeting, the federal cabinet rejected the ECC summary.

The Cabinet decision comes a day after the ECC’s newly appointed Finance Minister Hamad Azhar decision to open up sugar and cotton imports from India for the benefit of government and small and medium enterprises (SMEs). Azhar said that sugar is 15 per cent cheaper in India than in Pakistan.

Reservations over ECC Decision

It was learned that the Cabinet had expressed reservations over the ECC’s decision. The members said that importing these items from India would not be a positive development due to problems with India.

See also  Withdrawal of customs duty on import of cotton yarn S.R.O533(I)/2021

After the Cabinet rejected the summary. The Prime Minister directed the concerned authorities to intensify efforts. To import sugar and cotton from other countries at reasonable prices.

Azhar said the decision grabbed to facilitate small and medium enterprises (SMEs). As large industries could afford to import from any country but the shortage affecting small and medium enterprises.

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