India not 'Most Favoured Nation': Khurram Dastagir
NDMA status is now being considered for India if tax on Pakistani products is reduced, he said.
ISLAMABAD (Dunya News) – Federal Minister for Commerce Khurram Dastagir Khan said on Wednesday that India is no longer being considered for most-favoured nation status adding that India should first reduce tax rate on Pakistani textile products as agreed, Dunya News reported.
In an interview to a British media, minister said the recommendation to grant India the most favoured nation has ended and now Non-Discriminatory Market Access (NDMA) status with India is being considered adding that it will only be granted if India makes prominent reduction in duties imposed on imports of Pakistani products especially the textile products.
Khurram Dastagir said that all preparations are finalized on federal level to grant India the new status; however, the matter is to be presented before federal cabinet formal approval of which is necessary.
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 currently has 80 to 120 percent duties on Pakistani textile products adding that current percentage of duty is unacceptable. He said that if India wants non-discriminatory access to Pakistani market, the current duties have to be brought down to 0-5%.
Dastagir said there are other products as well that require tax reduction including chemical and medical instruments. He said that Nawaz Sharif’s government wants to farther 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 is a bilateral matter and that if our traders, industries, farmers and economy doesn’t benefit from this trade agreement, the matter will not proceed.
