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Pakistan not ready to give MFN status to India

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New Delhi: Pakistan Commerce Minister Khurram Dastgir Khan said that Pakistan is in no mood to grant Most Favoured Nation (MFN) status to India. He further clarified that no such proposal is under consideration.

While, India had granted the MFN status to Pakistan way back in 1996, but they have not reciprocated.

He said that existence of the negative list means that MFN status has not been granted to India. 150 Indian items are being imported through border currently.

The minister added that Pakistan has to debate whether the security of the country and the trade can be kept separate.

Khan also said that Pakistan has raised their concerns with the World Trade Organisation about the security when it came to trade with India. Non-tariff barriers are though dealt on case to case basis.

He blamed the Modi government for no progress as he said that since NDA Government has come into power, there hasn’t been any bilateral talks with India regarding trade.

India and Pakistan both share a strenuous political relation but with a border of almost 3000 KMs between them, both countries are forced to depend on each other. Locals of both countries close to the border, have a very similar culture and trade always been there since ancient times.

India and Pakistan both seem to follow the same tactics of blaming each other for security reasons and still there is no solution for the terrorism in the sub-continent.

With India pushing for foreign investment to increase, MFN status from Pakistan will not be a bad thing at all.

However, Pakistan does not seem to give MFN status to India anywhere in near future and it is a diplomatic blow for India.

India’s trade with all of its neighbours has increased in recent times but because of political relations, trade with Pakistan faces too many hurdles. Governments sitting in capitals make decisions and impacts the lives of people living at the border and it increased the illegal nature of trade which turns into smuggling.

It is why India and Pakistan need to sort their issues so that people of both nations can enjoy a better and peaceful cross-border and economic relations.

 

(With inputs from agencies)

(Image credit http://i1.tribune.com.pk/wp-content/uploads/2011/01/pak-afghan-trade-epa.jpg)

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Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Fall

Both in Delhi and Kolkata, diesel prices in the fortnight have declined

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Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Falls
Petrol Prices On The Reverse Trend For The Last 13 Days: Prices Falls, flickr

Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming.

The pace of decline has been less than half the rate of surge.

Percentage-wise, since May 30, when prices started to take a downturn, petrol prices have slipped 2.35 per cent in Delhi, compared to the 5.5 per cent in the previous 16 days.

In absolute terms, prices have gone down by Rs 1.85 a litre since May 30, compared to the increase of Rs 3.8 per litre in the during May 14-29. On Monday, fuel was sold at Rs 76.58 per litre in the national capital, down 20 paise from Sunday’s level, the IndianOil Corp’s website showed.

In Mumbai, where petrol prices were the highest in the country last month, the decline has been much slow at Rs 1.23 per litre so far, against the rise of Rs 3.76 a litre during May 14-29.

On Monday, petrol price in Mumbai was Rs 84.41 per litre against Rs 84.61 on Sunday. Similarly, in Kolkata and Chennai, the fuel was sold at Rs 79.25 and Rs 79.48 respectively.

In Kolkata and Chennai too, the decline has been Rs 1.81 and Rs 1.65 per litre in the last 13 days, around 50 per cent of the previous rate of increase.

In tandem with petrol prices, diesel too has seen a decline, but of only around 2 per cent in all the major cities including Delhi, compared to over 5 per cent rise in the previous fortnight.

Petrol station
Petrol station, flickr

Both in Delhi and Kolkata, diesel prices in the last 13 days have declined by Rs 1.36, and in Mumbai and Kolkata, the fall was of Rs 1.44 and Rs 1.45 per litre respectively.

Also read: Petrol price slashes by 32 paise and diesel price by 85 paise

On Monday, prices of the fuel in Delhi, Kolkata, Mumbai and Chennai were at Rs 67.95, Rs 70.50, Rs 72.35 and Rs 71.73 per litre, respectively. (IANS)