Khurram Sayeed, Executive Committee Member India-Pakistan Chamber of Commerce, Senior Vice-Chairman Petroleum Standing Committee of FPCCI and Chief Executive Planet Petrochemicals has welcomed the proposal to grant MFN status to India. He thanked the Prime Minister for his commendable decision and also appreciated the role played by the Commerce Minister and the Secretary Commerce and his team for their untiring efforts to liberalise trade with India.
He also thanked the Indian Commerce Minister and his team for their positive role and for their support to Pakistan at WTO. He further said that ultimately grant of MFN status to India will lead to economic prosperity for the whole region and Pakistan will bear its fruit the most. He said that this will lead to bilateral investment and will create much needed employment opportunities in Pakistan. Pakistani consumers will benefit due to direct import from India at competitive prices.
He further said that out of the US $800 million savings to Pakistan as outlined by the Prime Minister, petroleum products alone will account for over $110 million, therefore more emphasis should be paid to this sector and modalities should be finalised for their import at the earliest as outlined at the end of the 5th round of talks between commerce secretaries of India and Pakistan in Islamabad back in April.-PR
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