ISLAMABAD/MUMBAI: Pakistan lifted a nearly two-year old ban on Indian sugar and cotton imports, government sources said, a step toward reviving suspended trade between the two nuclear-armed neighbors.
Pakistan’s Economic Coordination Council, a top decision-making body, on Wednesday allowed the private sector to import 0.5 million tons of white sugar as Islamabad tries to keep soaring domestic prices in check, government officials told Reuters.
Pakistani buyers have already started making inquiries about buying Indian sugar and cotton, which is being offered at lower prices than supplies from other countries, five dealers said.
India is the world’s biggest producer of cotton and the second biggest sugar producer. Exports to its neighbor will reduce surpluses that are weighing on its local markets, while helping Pakistan to lower soaring sugar prices ahead of Ramadan.
The push comes amid a gradual thawing in ties between the two neighbors, which have fought three wars since gaining independence in 1947. The militaries of both countries released a rare joint statement last month, announcing a cease-fire along a disputed border in Kashmir.
“Enquiries for sugar and cotton are going on for price checking,” said the India head of a global trading firm, who declined to be identified due to company policy.
Pakistan has been looking to tap the international market for sugar, floating two tenders for 50,000 tons in the last month. It rejected bids on both tenders in March.
The first tender offer was priced at $540.10 per ton on a cost and freight basis (C&F) and the second at $544.10 ton, European traders said.
India is offering sugar at a discount compared to supplies from Thailand, said a dealer with global trading firm.
“Pakistani traders have been buying Indian sugar through their offices in Dubai for Afghanistan. If Pakistan allows imports from India, they will unload shipments in Pakistan,” the dealer said.
Traders say they have been offering Indian white sugar at $410 to $420 a ton on a free-on-board (FOB) basis, far lower than the domestic price of $694 quoted in Pakistan.
Indian exporters could also ship via sea or land, the dealer said, noting this gives them a big edge given tight global container shipping markets.
Pakistan was one of the leading buyers of Indian cotton until 2019, when Islamabad banned imports of goods from India after New Delhi revoked the special status of its portion of the Kashmir region that both countries claim.
“Indian cotton would be at least 4 to 5 cent per pound cheaper for Pakistan than supplies from other countries,” said Arun Sekhsaria, managing director of exporter D.D. Cotton.
Pakistan lifts ban on Indian cotton, sugar as prices rise, tensions ease
https://arab.news/4h9xe
Pakistan lifts ban on Indian cotton, sugar as prices rise, tensions ease
- There has been a nearly two-year old ban on Indian sugar and cotton imports
- Indian exports to Pakistan will reduce cotton and sugar surpluses weighing on its local markets
Pakistan opposition rallies in Khyber Pakhtunkhwa to demand release of Imran Khan
- PTI-led gathering calls the former PM a national hero and demands the release of all political prisoners
- Government says the opposition failed to draw a large crowd and accuses PTI of damaging its own politics
ISLAMABAD: Pakistan’s opposition led by the Pakistan Tehreek-e-Insaf (PTI) party demanded the release of jailed former prime minister Imran Khan at a rally in the northwestern Khyber Pakhtunkhwa province on Sunday, describing him as a national hero who continues to command public support.
The gathering came days after a rare and strongly worded briefing by the military’s media chief, Lt. Gen. Ahmed Sharif Chaudhry, who dismissed Khan as “narcissistic” and “mentally ill” on Friday while responding to the former premier’s allegations that Pakistan’s chief of defense forces was responsible for undermining the constitution and rule of law.
He said that Khan was promoting an anti-state narrative which had become a national security threat.
The participants of the rally called for “civilian supremacy” and said elected representatives should be treated with respect.
“We, the people of Pakistan, regard Imran Khan as a national hero and the country’s genuinely elected prime minister, chosen by the public in the February 8, 2024 vote,” said a resolution presented at the rally in Peshawar. “We categorically reject and strongly condemn the notion that he or his colleagues pose any kind of threat to national security.”
“We demand immediate justice for Imran Khan, Bushra Bibi and all political prisoners, and call for their prompt release,” it added, referring to Khan’s wife who is also in prison. “No restrictions should be placed on Imran Khan’s meetings with his family, lawyers or political associates.”
Addressing the gathering, Sohail Afridi, the chief minister of Khyber Pakhtunkhwa, denied his administration was not serious about security issues amid increased militant activity. However, he maintained the people of his province had endured the worst of Pakistan’s conflict with militancy and urged a rethinking of long-running security policies.
The resolution asked the federal government to restore bilateral trade and diplomatic channels with Afghanistan, saying improved cross-border ties were essential for the economic stability of the region.
The trade between the two neighbors has suffered as Pakistan accuses the Taliban administration in Kabul of sheltering and facilitating armed groups that it says launch cross-border attacks to target its civilians and security forces. Afghan officials deny the claim.
The two countries have also had deadly border clashes in recent months that have killed dozens of people on both sides.
Some participants of the rally emphasized the restoration of democratic freedoms, judicial independence and space for political reconciliation, calling them necessary to stabilize the country after years of political confrontation.
Reacting to the opposition rally, Information Minister Attaullah Tarrar said the PTI and its allies could not gather enough people.
“In trying to build an anti-army narrative, they have ruined their own politics,” he said, adding that the rally’s reaction to the military’s media chief’s statement reflected “how deeply it had stung.”
“There was neither any argument nor any real response,” he added, referring to what was said by the participants of the rally.
