Businessmen Panel supports NSC decision on suspension of trade with India

ISLAMABAD, Aug 9 (APP):The Businessmen Panel for Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Friday supported the National Security Council’s steps to suspend trade relations and downgrade diplomatic relations with India.

This move could be seen as a direct fallout of Narendra Modi government’s decision to remove all special provisions relating to Kashmir and bifurcate the state into two union territories, said the Businessmen Panel in a statement here.

Chairman BMP and Former Minister of Industries of the government of Punjab, Mian Anjum Nisar condemned the Indian government’s decision to revoke Article 370 and 35A and termed it an outcome of a dictatorial mindset, which further paved way for economic instability in the Asian Region.

“India has already slipped one notch to become the seventh-largest economy of the world, it plans to boost GDP from $2.7 trillion to $5 Trillion by 2024 and boost falling growth rate which is now under threat,” he said adding that Pakistan Army had all the abilities and capabilities to frustrate unholy designs of the enemies.

“If they continue with this momentum, Indian economy will be damaged more as they have much to lose compared to us ” he said and suggested to boycott all those SAARC Chamber of Commerce sessions under protest where Indian presence will be there.

He said, during the first quarter of FY19-20, India’s exports to Pakistan were $452.5 million and imports were just $7.13 million. In FY18-19, India total exports to Pakistan were $2.06 billion, while imports were $495 million. India’s major items of export are organic chemicals, cotton, plastics and dyes, while imports are fruit and edible nuts, and mineral fuels.

The BMP official also urged the Chinese government to call off trade with India as well under protest of Ladak which now has been declared a part of Union of India”.
Anjum Nisar further said that in the given circumstances, there were very little chances of a breakthrough after recent Modi’s move in Lok Sabah.

“India once again lost the chance for the stability of peace and harmony in this region though trade ties and business relations need a sharp boost to incentivise peace and enhanced connectivity between India and Pakistan and create corridors of peace,”

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