Pakistan formally suspends trade ties with India
Islamabad: Pakistan has formally suspended its trade relations with India after New Delhi revoked Jammu and Kashmir's special status.
On Friday, the federal cabinet headed by Prime Minister Imran Khan endorsed the decisions taken by the National Security Committee and the joint session of parliament, which include suspension of trade ties with India, the Dawn reported.
Trade relations between the two neighbours were already strained following the Pulwama terror attack as India imposed 200 per cent customs duty on all goods imported from the neighbouring nation.
Imports from Pakistan declined by 92 per cent to USD 2.84 million in March this year compared to USD 34.61 million in March 2018, according to the commerce ministry data. During January-March period of 2018-19 fiscal, imports from Pakistan declined by 47 per cent to USD 53.65 million.
Two notifications were issued soon after the cabinet meeting to implement the decision to suspend bilateral trade with India with immediate effect and until further orders, the report said.
One notification suspends all kind of exports to India, while the other banned import of goods of Indian origin or those imported from it. Earlier, this ban was only limited to imports from Israel with which Pakistan has no trade ties at all.
Pakistan's imports have already entered negative growth with almost all countries, except India, as Islamabad mostly imports raw materials from India, the report said.
According to a data of Indian Council for Research on International Economic Relations (ICRIER), the total exports from India to Pakistan in the financial year 2018-2019 was around USD 2 billion. The major items exported by India include chemical products and textiles among others, and the imported items include mineral products and vegetable items.
On Monday, India revoked Article 370 to withdraw the special status to Jammu and Kashmir and bifurcated the region into two Union Territories - Jammu and Kashmir, and Ladakh.
In reaction to India's move, Pakistan on Wednesday downgraded diplomatic ties with India by expelling Indian High Commissioner Ajay Bisaria and announced that it would also suspend trade relations with New Delhi.
India has said Jammu and Kashmir was an integral part of India and the issue was strictly internal to the country.
Pakistan has also suspended import of Indian goods under the Pak-Afghan transit treaty, Special Assistant to the Prime Minister on Information Firdous Ashiq Awan told a media briefing on Friday.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
No exception made in granting interim bail to Kejriwal, critical analysis of verdict welcome: SC
New Delhi (PTI): The Supreme Court said Thursday that it has not made any exception for Delhi Chief Minister Arvind Kejriwal in granting him interim bail for campaigning in the Lok Sabha polls and "critical analysis of the judgment is welcome".
A bench of Justices Sanjiv Khanna and Dipankar Datta refused to consider claims and counters of the Enforcement Directorate (ED) and Kejriwal's lawyer on statements made related to the interim bail to the Aam Aadmi Party national convenor.
"We have not made any exception for anybody, we said in our order what we felt was justified," the bench said, adding that critical analysis of the judgment is "welcome".
Appearing for the ED, Solicitor General Tushar Mehta objected to Kejriwal's speeches in poll rallies that if people voted for AAP, he would not have to go back to prison on June 2.
"It is his assumption, we cannot say anything," the bench told Mehta.
A statement made by a senior Union minister, who was not named during the proceedings, was pointed out by advocate Abhishek Singhvi, who was appearing for Kejriwal.
The top court was hearing Kejriwal's main plea against his arrest.
On May 10, the apex court granted interim bail to Kejriwal in a money laundering case related to the alleged Delhi excise policy scam.
The court has asked him to surrender on June 2.
The Delhi chief minister was arrested on March 21.
