ISLAMABAD: The summary of importing sugar and cotton from India was rejected on Thursday.
A meeting of the Federal Cabinet chaired by Prime Minister Imran Khan rejected the summary, which was approved by the Economic Coordination Committee a day ago.
The forum had mulled over the summary regarding importing sugar and cotton from India on low rates.
Citing sources, Geo News has reported that the cabinet meeting expressed reservations on the ECC’s decisions and said that importing commodities from India was not a positive development amid the issues faced due to the strained relations with the neighbouring country.
While, following rejection of the summary by the federal cabinet, PM Imran Khan has directed the relevant authorities to expedite the efforts to import sugar and cotton from other countries on reasonable prices.
On Mar 31, Finance and Revenue Minister Hammad Azhar had said that the government had decided to lift ban on import of sugar and cotton from India. The decision to import sugar from India was taken for it cost the government less than the locally produced sugar, he had said.
“We have allowed the private sector to import sugar up to five lac metric tons from India,” he had said.
While, he had said, import of cotton would be opened from India for small industries until the end of June.