Pakistan, which approved the import of sugar and cotton from India, has now reversed its decision. The Imran Khan government was getting a lot of criticism about this decision. In such a situation, for internal politics, Imran Khan decided to retreat. In a cabinet meeting led by PM Imran Khan on Thursday, the government approved the reversal of the panel's decision. Earlier, Pakistan's Economic Coordination Committee approved the import of sugar and cotton from India. The inflation of these products has increased significantly in Pakistan. In such a situation, it was decided to resume imports from India to deal with inflation. But politics started on this too and under pressure, the Imran Khan government overturned the decision.
Nothing has been officially said by Pakistan to reverse the decision. If the decision of the Economic Coordination Committee had come into force, it would have been two years since the trade between India and Pakistan would have started. In fact, in August 2019, after India removed Article 370 from Jammu and Kashmir, Pakistan decided to discontinue business from India. On Wednesday, Pakistan's new finance minister Hammad Azhar announced to start business with India. He spoke about the import of cotton and sugar from India. Not only this, but he had also defended his decision on the question of starting a business from India.
Important decision was taken after ceasefire on LOC
Earlier, the decision to start a business with India was being seen as an exercise by Pakistan to improve relations between the two. Earlier, the armies of the two countries had also agreed to a ceasefire on the LoC last month. Pakistan's Prime Minister Imran Khan appointed Hammad Azhar as Finance Minister on Tuesday.
Decision was taken to deal with inflation, but it had to be reversed
Finance Minister Hammad Azhar while talking to the media had said that imports from India will be approved to deal with rising sugar prices and shortage of cotton in Pakistan. After this, the Economic Coordination Committee approved 5 lakh tonnes of sugar rectangle from the private sector. Apart from this, by the end of June, it was also decided to import cotton so that the needs of micro and small industries could be met.
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