Pak cabinet resolves to grant MFN-status to India

REZAUL H LASKAR

Islamabad, Jan 4: Against the backdrop of a missed deadline for normalising trade relations with India, Pakistan today said the federal cabinet had reiterated its resolve to grant Most Favoured Nation-status to the neighbouring nation.
The cabinet, during its meeting yesterday, discussed the issue of normalising trade ties and reiterated its earlier resolve of granting MFN-status to India, Foreign Office spokesman Moazzam Khan said.
Khan was responding to a question at the weekly news briefing on when Pakistan would grant MFN-status to India. He did not give further details.
During the meeting, the cabinet directed the Commerce Ministry to speed up the process for implementing the government's decision to fully normalise trade relations and to grant MFN-status to India.
The Commerce Ministry had also been directed to phase out the negative list regime for trade with India by the end of February, Information Minister Qamar Zaman Kaira told reporters. He said the talk of lobbies that opposed the normalisation of trade with India was a thing of the past.
MFN-status would be granted to India "soon", Kaira said without giving details.
During talks between officials and ministers of India and Pakistan last year, it was decided that Islamabad would phase out the negative list regime by December 31 so that MFN-status could be granted at the beginning of the new year.
However, the trade liberalisation process suffered a setback due to intense lobbying by some Pakistani industries towards the end of the past year. Extremist groups like the Jamaat-ud-Dawah and Defa-e-Pakistan Council too opposed normalisation of trade ties.
Meanwhile, The News daily quoted its sources as saying that Pakistan would give India MFN-status next week.
The daily reported that the negative list too would be eliminated. The sources said some "sensitive items" would be excluded from trade.
The report said MFN-status could not be granted to India by the deadline of December 31 as the Commerce Ministry was continuing its negotiations with different stakeholders to remove their apprehensions.
India granted Pakistan MFN-status in 1996.
Since the two countries resumed their peace process in 2011, they have taken several steps to boost trade relations.
The current negative list allows commerce in all but 1,209 items.
Trade between India and Pakistan is currently worth about USD 2 billion annually and the two sides have said they want to increase this figure to six billion dollars by 2014.

Lastupdate on : Fri, 4 Jan 2013 21:30:00 Makkah time
Lastupdate on : Fri, 4 Jan 2013 18:30:00 GMT
Lastupdate on : Sat, 5 Jan 2013 00:00:00 IST




  • del.icio.us
  • StumbleUpon
  • Digg
  • TwitThis
  • Mixx
  • Technorati
  • Facebook
  • NewsVine
  • Reddit
  • Google
  • LinkedIn
  • YahooMyWeb
  • Print News

Enter the Security code exactly as you see it in the image security code is CaSe SeNsItIvE(Cookies must be enabled)
  • MORE FROM BUSINESS

  • Kashmir

Haji Yousuf 's ghost haunts Crime Branch

Govt To Act On Bedi Commission Report, Initiate Action Against Cops

UMER MAQBOOL

Srinagar, Jan 4:  Jammu and Kashmir Government is contemplating disciplinary action against the Crime Branch (CB) officials held guilty by Justice HS Bedi panel, the one-man Commission of Inquiry More



  • Srinagar City

SHRC TAKES STRONG NOTE

Seeks report from IGP Kashmir, SP, SHO Hazratbal

ASSAULT ON GK CORRESPONDENT

GK NEWS NETWORK

Srinagar, Jan 4: Jammu and Kashmir State Human Rights Commission (SHRC) on Friday took strong note of assault on Greater Kashmir correspondent Imran Muzaffar by some policemen on Thursday and sought reports More




  • Jammu

Woman cop commits suicide

Jammu, Jan 4: A woman police constable allegedly committed suicide by hanging herself from a ceiling fan at her residence in Rajouri district, police said on Friday.  The constable, identified as More



  • South Asia

Siachen Glacier shrinking, says study

Karachi,Jan 4: The Siachen Glacier has been reduced by 5.9km in longitudinal extent between 1989 and 2009 because of rising temperatures, says a study published recently. Human presence at Siachen More



  • Pattan/Tangmarg

Waripora sans basic amenities

‘SUCCESSIVE REGIMES IGNORED US’

Waripora (Pattan) Jan 4: Inhabitants of Waripora Payeen in this north Kashmir area are up in arms against the non-availability of the basic amenities in the village. Located at the bank of Nallah More



  • GKeducation&Careers

Towards a better education system

Focus on the quality of education at the primary level to achieve better results

REMEDIAL MEASURES

REHANA JABEEN

It is result time, pick up a morning newspaper and you will come across numerous ads carrying photographs of students who have passed their 10th class annual exam with good marks. The scores and names More



ADD
Designed Developed and Maintaned By Imobisoft Ltd /Algosol Software Solutions