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ECC Decision To Allow Import Of Cotton, Sugar From India Welcomed: Mian Zahid Hussain
Umer Jamshaid Published March 31, 2021 | 06:18 PM
Move to revive limping textile sector, stabilise price of sugar, More food items from India be allowed on humanitarian grounds
Karachi (UrduPoint / Pakistan Point News - 31th March, 2021) Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Wednesday welcomed the decision of the Economic Coordination Council (ECC) to allow import of cotton and sugar from India.
The imports will help the textile industry overcome shortage while the increasing price of cotton and sugar will be stabilised, he said.
Mian Zahid Hussain said that the move will also help the value-added sector and help almost 100 textile mills start operations that were closed due to the crisis.
Talking to the business community, the veteran business leader said that the decision to import cotton from India was delayed unnecessarily which caused distortion in the market which also damaged employment and the export sector.
Imports through land route from India is the most viable option which was being ignored due to political reasons which took toll on the economy and the masses facing unprecedented inflation, he added.
The business leader said that Pakistan downgraded trade relations with India in August 2019 but it never helped while the decision provided an opportunity to the mafia to milk poor masses stoking poverty and unrest.
Pakistan allowed the import of medicine and some raw materials in May 2020 due to pandemic which restored trade relations to some extent which was not enough.
He said that Pakistan badly need India cotton and year to keep export momentum while the decision to import half a million tonnes of sugar will also help masses confront inflation while discouraging hoarders.
Import of fruit, vegetable pulses and other edibles from India should also be allowed to provide some relief to masses reeling under inflation, he demanded.
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