Islamabad, Sept. 14 (ANI): Pakistan Minister of Commerce Makhdoom Amin Fahim, has said although the government was in process of normalising trade relations with India, it has not yet granted the Most Favoured Nation (MFN) status to its neighbouring country.
Fahim informed the parliament that complete the MFN status would be granted to India after it meets Pakistan's conditions, reports The Nation.
"As a first step, Negative List of 1209 tariff lines has been notified. The phasing out of Negative List by 31st December 2012 is also conditional to provision of level playing field for Pakistani exporters by Indian," he said.
Fahim said there is advantage in importing raw material from India at low costs and with minimum transportation charges, as that would enable the Pakistani manufactures to save a lot and spend this saved capital on improving the efficiency and skill of the local industry. The beneficiary of trade between India and Pakistan will be the consumer, as this trade will provide relief from pressure of inflation, he said. (ANI)
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