ECC considers Indian cotton, yarn, sugar import today

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet will today (Wednesday) consider allowing import of cotton, yarn and sugar from India.

Minister for Finance Hammad Azhar will chair the meeting.

The ECC has lots of things on the agenda but the most important one would be a summary from the Ministry of Commerce seeking approval for import of cotton and yarn from India through the Wagah border.

Bilateral trade between Pakistan and India remained suspended from 2019 and efforts for its resumption are underway.

“Keeping in view shortages of cotton in the country, the government is considering allowing import of cotton from India,” said the official sources.

Textile tycoons say import of cotton from India will hurt the farmers’ interest. “We have already imported our required cotton from the Central Asia and other parts of the world so there is no need to grant this permission,” said an official dealing with the textile sector.

However, the summary states that import of cotton and yarn through the Wagah border will help meet domestic requirements at reasonable rates, as it would meet requirements of domestic sector at cheap freight rates.