Advertisement

HindustanTimes Wed,22 Oct 2014

Pakistan to give India MFN status by year-end

Jayanth Jacob, Hindustan Times  New Delhi, February 29, 2012
First Published: 23:51 IST(29/2/2012) | Last Updated: 23:53 IST(29/2/2012)

In a major step in bilateral ties, Pakistan on Wednesday took a major step to give India most-favoured nation (MFN) status by year-end. New Delhi promptly welcomed the move aimed at normalising the trade ties, which will have positive effect on the bilateral ties.

Advertisement

A meeting of the Pakistan Cabinet chaired by Yousuf Raza Gilani unanimously approved the proposal to switch over to a negative list regime, which permits imports from India of all but 1,200 items. India granted Pakistan MFN status in 1996 but Islamabad failed to reciprocate because of some hardline political positions which believed that such a move could harm Islamabad's stance on the core issue of Kashmir. There have been considerable opposition from Pakistan trade lobbies, too, against India being given the MFN status.

A meeting of the Cabinet chaired by Prime Minister Yousuf Raza Gilani "unanimously approved the phasing out of the negative list" regime between Pakistan and India by December, said a statement issued by the Premier's office. There will now be the introduction of a negative list with slightly around 1, 200 items that cannot be traded with India. 

However, a media report said Pakistan's Ministry of Industries and Textiles Ministry, which have a crucial say in framing strategies to protect domestic manufacturers, have opposed the move.   

(With PTI inputs)


Advertisement
more from New Delhi

2G: Court's no to Chandra's plea to go abroad, terms it casual

A special court has rejected a plea of Unitech Limited managing director Sanjay Chandra, facing trial in 2G spectrum allocation case, to go abroad saying it "smacks of casual attitude" as no proper documents support it.

Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved