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Pakistan reverses decision on importing from India

Date: 03 April 2021 Tags: India & World
  • Pakistan has reversed its decision to import sugar and cotton from India, a day after Pakistan’s Economic Coordination Council had said embargoes on Indian imports had been lifted.
  • The  U-turn came on the back of a political backlash. Pakistan finance minister had said that the government had decided to import sugar from India to rein in rampant inflation before Ramzan.
  • The import of half a million tonnes of sugar would likely have slashed prices by up to 20%. The economic committee had also paved the way for three million tonnes of wheat to be brought in.