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| Introduction of banking facilities must for hike in LOC trade | | | No doubt Pakistan has started explor
ing the possibility of increasing the level
of bilateral trade with India by planning to grant Most Favoured Nation (Men) status to its neighbour what is required for enhancing the trade practices is the introduction of banking facilities not only between the two countries but also between Jammu and Kashmir and Pakistan held Kashmir. Since 2005 when the cross-LOC trade was started the level of of imports and exports between the divided Kashmir had increased. At the same time, traders feel the pinch of lack of banking f acilities. It is in this context that the Government of India and the powers that be in Islamabad allow the Jammu and Kashmir Bank to set up its branches not only in Pakistan but in occupied Kashmir too. The news that Pakistan plans to import petrol and other food items from India is expected to further ease tension between the two neighbours that have spent more than six decades in conflict and in an atmosphere of mistrust and misgivings. During the last over two years a sincere attempt is being made by powers that be in New Delhi and Islamabad at reducing the trust deficit. The two sides have covered some distance but still they have to work hard,after shedding mistrust, till they reach the goal, that is nothing except abandoning the path of confrontation needed for promoting cordial ties. Once the two sides stop behaving like sworn enemies one can experience the fruits of peace and progress. It was simply the outcome of "hate-India" syndrome that Pakistan had not granted Most Favoured Nation(MFN) to India during the last over two decades when New Delhi had granted the status to its neighbour long ago.
Over three months ago the cabinet in Islamabad had decided to grant the MFN status to India but the decision could not be implemented because of stiff opposition to the plan by the Pakistani Army and the ISI. But when the policy makers in Islamabad reviewed the issue they were convinced that delay in gr anting the MFN status to India was against the economic intrests of Pakistan. These policy makers were told that Pakistan required to import more than 7,000 items from other countries because basically the tardy growth in the sectors of industry, agriculture, horticulture had forced Pakistan to be more of a consumer state than an exporter country. The policy makers had to revise their stand on the issue of granting MFN status to India when they came to know that Pakistan was losing about billion rupees per year because of trade restrictions with India. Out of 7,000 items Pakistan needed its imported over 1900 from India and in importing rest of the items, including India made goods, from the middle east and other countries Islamabad entailed heavy losses.
Hence to begin with the new strategy Pakistan has decided to allow import of petrol and food items from India before clearance was given to the grant of MFN status to its neighbour. Already the reopening of trade and travel routes between Jammu and Kashmir and Pakistan occupied Kashmir has improved people to people contact between the two sides and this too contributed to trust deficit reduction. Though since 2003 the process of dialogue between the two sides, for the settlement of some bilateral problems, had been initiated, it is since 2008 that the pace of the process of parleys between Islamabad and New Delhi has gained momentum. A situated has emerged in which both sides swear in the name of dialogue process required for resolving bilateral issues. Hence it is mandatory for Islamabad, especially the Pakistani Army and the ISI, to stop abetting and aiding terrorist activities in India, including the state of Jammu and Kashmir. Foreign Minister of Pakistan, Hina Rabbani Khar, has pleaded for uninterrupted dialogue process for resolving bilateral issues and this can be possible if Pakistan cooperates with India in the ongoing war against terror and if Islamabad agreed on keeping the Kashmir issue in cold store. |
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