Most Favoured Nation News
Pakistan says it has no concern if India diverts water of eastern rivers, but will definitely object to any use or diversion to western rivers.
A nation-wide outrage has been triggered following the death of at least 40 CRPF jawans personnel in a terror attack in Pulwama.
After the worst terror attack on forces in Kashmir, in which 44 soldiers were killed, the government today decided to remove "Most Favoured Nation" privileges given to Pakistan and said it would take all steps to ensure the country's isolation globally.
Under the MFN status, a WTO member country is obliged to treat other trading nations in a non-discriminatory manner.
India on Thursday said it will review the Most Favoured Nation status granted to Pakistan by it.
Withdrawal of the MFN status by India is likely to hurt Pakistani industries as it might stop flow of raw materials at competitive prices.
India granted the MFN status to Pakistan in 1996 but the neighbouring country has so far not reciprocated.
Former foreign secretary Lalit Mansingh on Wednesday said that India withdrawing Most Favored Nation (MFN) from Pakistan will be a very big humiliation for Islamabad.
Withdrawal of Most Favoured Nation (MFN) status by India is likely to hurt Pakistani industries as it might stop flow of raw materials at competitive prices, experts say.
India granted the MFN status to Pakistan in 1996 but Pakistan is yet to reciprocate to that. The neighbouring country has missed its own deadline of December 2012 for giving India this tag.
India has forcefully asked the world to isolate Pakistan for nurturing terrorism and firmly advised Islamabad to stop dreaming it can ever capture Jammu and Kashmir.
The Congress on Monday extended support to India's stand to corner Pakistan over the latter's continuous policy of sponsoring terrorism.
There is no proposal under consideration to give India the Most Favoured Nation (MFN) status, Pakistan Commerce Minister Khurram Dastgir Khan has said.
Pakistan may grant non- discriminatory market access status to India and the two countries are moving towards sealing a deal to liberalise trade, Commerce Minister Khurram Dastgir Khan has said.
Pakistani industry on Friday expressed hope that Islamabad would soon grant the Most Favoured Nation (MFN) status to India as the formalities on the matter have already been completed.
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