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
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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 assembly speaker warns opposition against anti-state remarks in parliament
- Ayaz Sadiq says criticism of judiciary and armed forces will not be allowed on assembly floor
- He calls violence during protests unacceptable, vows neutrality as National Assembly speaker
ISLAMABAD: Pakistan’s National Assembly Speaker Sardar Ayaz Sadiq said on Saturday that opposition lawmakers would not be allowed to speak against Pakistan, the judiciary or the armed forces on the floor of parliament, calling such remarks unacceptable.
Speaking to reporters during a visit to the eastern city of Lahore, Sadiq said parliamentary debate must remain within constitutional and legal limits, while reiterating his commitment to act impartially as speaker.
“No one will be allowed to speak against Pakistan, the judiciary or the armed forces on the floor of the National Assembly,” Sadiq said. “Negative or controversial remarks about judges or the armed forces are unacceptable.”
His comments come amid heightened political tensions after opposition groups held protests in the past, criticizing state institutions and targeting government and military properties.
The speaker said peaceful protest was a democratic right but drew a sharp line at violence and vandalism.
“Protest is the right of every citizen in a democratic society, but it must remain peaceful and within the bounds of the constitution and the law,” he continued, adding that arson, damage to property and the use of sticks or weapons in the name of protest were “unacceptable” and posed a threat to the rule of law.
“No opposition lawmaker will be allowed to speak on the National Assembly floor if they speak against Pakistan,” Sadiq said.
The speaker also noted the country’s economic indicators were gradually improving, citing an increase in foreign exchange reserves, and said Pakistan had further strengthened relations with countries including the United States, China, Russia, Türkiye and Saudi Arabia.
