A meeting held here on Monday between Federal Commerce Secretary, Zafar Mahmood and office bearers of the Karachi Chamber of Commerce and Industry (KCCI) discussed in detail the issue of granting Most Favoured Nation (MFN) status to India. The secretary was of the opinion that India had already given the MFN status to Pakistan and was now pressing Pakistan to extend the same status to India.
According to sources privy to the meeting, the secretary also sought opinion on a proposal of import of oil from India which would help save millions of dollars. Zafar Mahmood said that allowing import of oil from India would cost less when compared to its import from other countries but it would further tilt balance of trade in favour of India. He said that total quantum of the two-way trade was around 1.8 billion dollars. He was of the view that trade from India would increase by around 800 million dollars if import of oil was allowed.
Another issue which came under discussion related to trade with India through third country which would come to around two billion dollars. The representatives of KCCI were of the opinion that although India had given MFN status to Pakistan, it was creating trade barriers hampering the two-way trade. They were of the opinion that the two-way trade could not be improved until and unless there was a political will and improvement in political understating between the two countries.
They said that India had allowed import of 1940 items out of which 108 items were allowed through Wahga. They emphasised the need that the import of remaining items should also be allowed through Wahga. They pointed out that Indian embassy was adopting delaying tactics in issuing business visas, some time taking more than three months in issuing visa despite the recommendations of KCCI.
Comments
Comments are closed for this article.