ISLAMABAD: The Economic Coordination Committee (ECC) will mull over allowing the import of cotton, yarn, and sugar from India today.
The ECC meeting will be chaired by Minister for Finance Hammad Azhar.
With lots of things on agenda, the most important item would be a summary from the Ministry of Commerce seeking approval for the import of cotton and yarn from India through the Wagah border.
Bilateral trade between Pakistan and India remained suspended from 2019 and efforts for its resumption are underway.
According to official sources, the government is considering allowing the import of cotton from India keeping in view shortages of cotton in the country.
Textile tycoons say the import of cotton from India will hurt the farmers’ interest.
“We have already imported our required cotton from Central Asia and other parts of the world, so there is no need to grant this permission,” said an official dealing with the textile sector.
However, the ECC summary states that the import of cotton and yarn through the Wagah border will help meet domestic requirements at reasonable rates. It would meet the requirements of the domestic sector at cheap freight rates.