ISLAMABAD: The federal cabinet rejected on Thursday an Economic Coordination Committee (ECC) proposal to import cotton from India, reported ARY News.
The rejection comes a day after the ECC gave a go-ahead to the import of cotton, cotton yarn and sugar from the neighbooring country.
Addressing a press conference after chairing a meeting of the ECC the other day, Finance Minister Hammad Azhar had said the committee allowed the private sector to import half a million tonnes of sugar from India.
Beside sugar, he said the ban on the import of cotton from the neighbouring country is being removed until June-end.
“Pakistan decided to import sugar from India to plug the shortage of the commodity and stabilise its prices,” Hammad Azhar explained. “Sugar to be imported from India will be Rs15 to 20 cheaper.”
“The import of cotton from India will benefit small and medium enterprises (SMEs),” he said.
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