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Govt seeks parliament nod to give market access to India

Govt seeks parliament nod to give market access to India

ISLAMABAD: The federal government has decided to forward Non-Discriminatory Market Access (NDMA) – a term coined after Most Favoured Nation (MFN) status for India, to parliament for approval to normalise trade ties with India. The decision was taken after lack of understanding between inner opposition and stakeholders.

As per details, the government is waiting for end to sit-ins so that they can forward NDMA status for India, in parliament for approval.

It is important to mention here that government had decided to give Most Favorite Nation (MFN) status to India on pressure from the World Bank but was not succeeded due to opposition from religious and conservative parties of the country. Prime Minister Nawaz Sharif also instructed the commerce ministry to create understanding among all stakeholders on the point of MFN status.

Federal Minister for Commerce Khurram Dastgir, while talking to Customs Today, said “World has been improving trade ties with neighbours for better economic development and if India and China could raise their trade volume to $ 70 billion, why not Pakistan should normalise its trade ties with India”. He added: “By giving NDMA status, some areas of our industry may be affected but long term benefits of trade with India were far beyond that.”

Dastgir said that the results of GP plus status were not as per expectations, however, after 4-5 years we will observe the fruits of GP plus status.

“India has agreed to even more concessions now than the threshold agreed during secretary level talks in September 2012,” he said.

According to Sources, Pakistan will, as a first step, allow India to import all goods through the Wagah-Attari border – only 137 items can be imported through the border currently. The border would also remain open 24 hours a day, sources said.