Pakistan is all set to permit the import of cotton from India through land, particularly via the Wagah border, to meet the needs of its textile industry for additional 16 million bales, a news report has said.
Pakistan's Economic Coordination Committee (ECC), with Prime Minister Shaukat Aziz in the chair on Thursday, is expected to permit the import of cotton through the Wagah border with India.
A textile ministry official said that commerce ministry had already allowed the import of cotton from India through land, but because of resistance of Ministry of Food, Agriculture and Livestock (MinFal), the permission had been withheld.
"Now we have again put up the summary seeking the import of cotton from India through Wagah border and this time MinFal has also agreed with the condition that it should be carried out on reciprocal basis," the official was quoted as saying by The News daily.
The official said that additional 16 million bales are required to meet the needs of the textile industry. Pakistans textile industry is incurring additional cost of Rs 200 per mound due to import of cotton through sea routes.
Right now Pakistan is already importing cotton from India through sea and from Uzbekistan through Irans Bandar Abbas," the official said.
He said owing to conflict of interest, the textile industry has sustained a lot of financial damage by not allowing the import of cotton through land.