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Pakistan no longer the favored nation


SUKIRTI MISHRA 17/02/2019 11:53:29
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NEW DELHI.  In the aftermath of Pulwama terror attacks, the entire country is seething with fury. Repercussions have already taken an advanced stage. The government is in no mood to let go of the attack with a light notion. In a meeting of cabinet committee on security chaired by PM Narendra Modi, several stringent measures were declared against Pakistan.

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The central govt decided to take back the privilege of "most favored nation'  from Pakistan with immediate effect. 
MFN is a special privilege provided to the member countries to establish a free flow of trade & business. 
According to the policies of WTO, the MFN countries are supposed to conduct business without adopting any discrimination along with reducing the tariff rates. 
The MFN status was given to Pakistan in 1996, post 1 year after WTO was formed while the former has still not provided the same status to India on the pretext of border-related issues. 
The Indo-Pak trade activities are approximately around 2.61 billion dollars, primarily focusing on sugar, cement, organic chemicals, cotton etc.
The MFN countries enjoy the perks of a global market for conducting trade activities & reduction of tariffs on export   
 

 

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