ISLAMABAD- Federal Minister for Commerce Khurram Dastagir Khan said today that India was no longer being considered for most-favoured nation status, India should first reduce tax rate on Pakistani textile products as agreed.
While speaking to journalists, Minister said that the recommendations to grant India the most favored nation had ended and presently Non-Discriminatory Market Access (NDMA) status with India is being considered. He further added that it would only be granted if India made prominent reduction in duties imposed on imports of Pakistani products especially the textile products.
Khurram Dastagir said that all preparations were finalized on Federal level to grant India with the new status; however, the matter is to be presented before federal cabinet for formal approval.
He said the federal cabinet will approve the status as soon as a positive response on Pakistani reservations is received from India.
Federal Minister pointed that India was currently imposing 80 to 120 percent duties on Pakistani textile products which was unacceptable. He said that if India wanted Non-Discriminatory Access to Pakistani market, the current duties had to be brought down to 0-5%.
He also said that Nawaz Sharif's government wanted to build relations with India on priority basis and that the government won't let any issue come in the way.
He emphasized that the trade advancement was a bilateral matter and if our traders, industries, farmers and economy did not benefit from the trade agreement, the matter will not proceed.