Govt formally suspends bilateral trade with India

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ISLAMABAD: The federal cabinet, in its meeting held under the chair of Prime Minister Imran Khan on Friday, approved complete suspension of trade with India following the revocation of Article 35A, which granted a special status to Kashmir.

As per the documents, the federal government has suspended bilateral trade with India with immediate effect and until further orders.

It is pertinent to mention that bilateral trade volume between Pakistan and India remained $1.76 billion from July 2018 to July 2019. Pakistan’s exports to India during the period were recorded at $263 million, as compared to the imports of $1.49 billion.

Trade relations between the two countries soured dramatically after the Pulwama incident, which killed over 40 Indian troops, in February this year.

Pakistan’s import from India was recorded at $965 million from February to June FY18, as compared to $611 million during the same period of FY19. Similarly, exports stood at $145 in Feb-June 2018, as compared to $32 million during the same period of last year.

As per the documents, the balance of trade between the two nuclear-armed neighbours remained highly in favour of India, as Pakistan’s export to India was $342 million in FY18, whereas imports stood at $1.84 billion.

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