ISLAMABAD: With regard to the decision of Economic Coordination Committee (ECC) for import of certain commodities from India, Prime Minister Imran Khan held detailed consultation with the key cabinet members on Friday and decided that Pakistan could not go ahead for any trade with India under the current circumstances, the sources revealed.
Pakistan has constantly stated that any forward movement requires India to create an enabling environment by revisiting its unilateral and illegal measures of 5th August 2019.
The sources also revealed that the prime minister instructed the Ministry of Commerce and his economic team to immediately take steps to facilitate the relevant sectors, value added, apparel and sugar, by finding alternative cheapest sources of import of the needed commodities.
As per the government sources, various proposals are presented before ECC which considers these suggestions from economic and commercial point of view. After consideration by ECC, the decisions are presented to the Cabinet for ratification and final approval.
The source said in this case, a proposal was presented to the ECC to allow import of cotton, yarn and sugar keeping in view domestic requirements. The ECC had decided on commercial grounds to recommend import for the Cabinet’s consideration.
While this decision was not on the formal agenda of the Cabinet meeting, the issue was brought up by cabinet members and the prime minister instructed that ECC decision be deferred and immediately reviewed.-APP
ZAHEER ABBASI ADDS: An official said that the minister for finance and revenue and governor State Bank of Pakistan (SBP) meeting was also scheduled with the prime minister on Friday to discuss the overall economic situation and how to move ahead after the departure of former finance minister Dr Abdul Hafeez Shaikh.
Copyright Business Recorder, 2021