Following LoC Ceasefire Statement, Pakistan Likely To Resume Cotton And Yarn Imports From India: Report

Following the recent ceasefire agreement along the Line of Control (LoC) between India and Pakistan, the latter is likely to allow cotton and yarn imports from India through land route, reports Economic Times.

Pakistani daily The Express Tribune has reported that Prime Minister (PM) Imran Khan's Advisor on Commerce Abdul Razak Dawood may take a decision in this regard next week. Once a principled decision is taken on the matter, a formal order will be presented before PM Khan's Cabinet's Economic Coordination Committee.

Speaking to the Pakistani daily, Dawood said, "I cannot say yes or no at this stage and would be in a better position to respond on Monday."

It is said that the in-house deliberations over the resumption of cotton and yarn imports from India have already begun, though the final decision in this regard will be taken only after seeking approval of PM Khan.

Meanwhile, regarding the ceasefire agreement, it should be noted that the two nations had also signed a ceasefire agreement in 2003. However, the same was never implemented in letter and spirit in the past several years.