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February 17, 2019

Pulwama attack: India hikes 200 pc Customs duty on Pak goods

NEW DELHI: The Union government has hiked the basic Customs duty on all goods imported from the neighbouring country to 200 percent with immediate effect, reports the Indian media. This comes after India revoked the 'Most Favoured Nation' (MFN) status to Pakistan on February 15, following the Pulwama terror strike, that killed 50 CRPF jawans."India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200 percent with immediate effect," Finance Minister Arun Jaitely said in a tweet. Increasing duties would significantly hit Pakistan's exports to India, which stood at $488.5 million (around Rs 3,482.3 crore) in 2017-18.