Despite tensions, no change in trade regime with India, says minister

ISLAMABAD: Commerce Minister Khurram Dastgir told the Senate Standing Committee that despite diplomatic tension between Pakistan and India, the trade regime had not been changed by the government, a news report said.

He was speaking in response to the issue raised by Chairman of the textile committee Senator Mohsin Aziz that a huge quantity of raw cotton had been stopped at the Karachi Port. The minister said that the government had not issued any order in this regard.

He said that the government had put restriction of importing 500,000 cotton bales in a year through Wagah border while there was not any such restriction on the trade through Karachi Port.

The minister further said that the import of tomatoes from India have also been suspended due to a good yield of the local crop.

The committee decided to hold a meeting in Karachi to resolve the issue of banking sector with the textile industry.

A representative of textile sector however pointed out that the electric and gas prices in Pakistan were not competitive as compared to that of Bangladesh, India and Vietnam.

Khurram said that the government had also announced to make five export oriented sectors, zero rated in previous budget and in the next budget the government is planning to allow all key input material used for exports including machinery as duty free in order to boost the exports of the country.