Pulwama terror attack: India hikes customs duty to 200% on all goods imported from Pakistan

Agencies
February 17, 2019

New Delhi, Feb 17: Taking strong economic action against Pakistan following the Pulwama terror attack, India Saturday raised the customs duty to 200 per cent on all goods imported from the neighbouring country, including fresh fruits, cement, petroleum products and mineral ore.

The decision would significantly hit Pakistan's exports to India, which stood at USD 488.5 million (around Rs 3,482.3 crore) in 2017-18 as it would drastically increase the prices of its goods here.

" India has withdrawn MFN (most favoured nation) status to Pakistan after the Pulwama incident.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 per cent with immediate effect," finance minister Arun Jaitley said in a tweet.

The two main items imported from Pakistan are fruits and cement, on which the current customs duty is 30-50 per cent and 7.5 per cent, respectively.

Slapping an import duty of 200 per cent effectively means almost banning the imports from Pakistan, official sources said.

India on Friday revoked the MFN status to Pakistan in the aftermath of the Pulwama terror attack. The country invoked a security exception clause of the World Trade Organisation (WTO) to withdraw this status. Both the countries are member of this organisation.

India can also restrict trade of certain goods and impose port-related restrictions on Pakistani goods.

Items which Pakistan exports to India include fresh fruits, cement, petroleum products, bulk minerals and ores, finished leather, processed minerals, inorganic chemicals, cotton raw, spices, wool, rubber product, alcoholic beverages, medical instruments, marine goods, plastic, dyes and sport goods.

India granted the MFN status to Pakistan way back in 1996, but the neighbouring country had not reciprocated.

Under the MFN pact, a WTO member country is obliged to treat the other trading nation in a non-discriminatory manner, especially with regard to customs duty and other levies.

In 2012, Pakistan had committed to giving the MFN status to India but retracted later due to domestic opposition. Instead of MFN, Pakistan said it was working on granting Non-Discriminatory Market Access (NDMA) status to India but that also was not announced.

Total India-Pakistan trade has increased marginally to $ 2.41 billion in 2017-18 as against $ 2.27 billion in 2016-17. India imported goods worth $ 488.5 million in 2017-18 and exported goods worth $ 1.92 billion.

During April-October 2018-19, India's exports to Pakistan stood at $ 1.18 billion, while imports were $ 338.66 billion.

India mainly exports raw cotton, cotton yarn, chemicals, plastics, man-made yarn and dyes to Pakistan.

At least 40 CRPF personnel were killed and five injured on Thursday in one of the deadliest terror attacks in Jammu and Kashmir when a Jaish-e-Mohammed suicide bomber rammed a vehicle carrying over 100 kg of explosives into their bus in Pulwama district.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 30,2024

KFC.jpg

US fast-food chain KFC has been forced to close over 100 restaurants in Malaysia over a pro-Palestine boycott of the company.

The Straits Times reported on Monday that the American restaurant chain specializing in fried chicken had to reduce its operations across Malaysia, mostly in north-eastern Kelantan state, following calls for a boycott of the company amid protests over the US government’s backing of the Israeli regime in its genocide of the Palestinians in the besieged Gaza Strip.

Nearly 80 percent, or 21 KFC outlets, in Kelantan state stopped their operations, followed by 15 outlets in Johor and 11 in Selangor, the most industrialized state in Malaysia.

Citing a local Chinese-language newspaper, the Straits Times added the local franchisor of the Louisville, Kentucky-headquartered company in the Muslim-majority Southeast Asian nation, QSR Brands Holdings Bhd, is temporarily suspending operations in more than 100 KFC outlets after about half a year of boycott movement. “QSR Brands, which owns and operates the KFC fast-food franchise in Malaysia, is suspending 108 outlets nationwide.”

In this regard, chairman of the pro-Palestinian group Boycott, Divestment, Sanctions (BDS) in Malaysia, Professor Mohd Nazari Ismail, told the Singapore-based newspaper that, “KFC is not on the BDS list of targeted companies. But many Malaysians see any American fast-food operator to be related to Israel, including KFC.” The BDS has been pushing for various forms of boycott movement against Israel until it meets its obligations under international law.

KFC was also forced to shut its first branch in Algeria earlier this month, just two days after its opening, following protests over US support to Israel.

The boycott action has severely affected worldwide operations of American fast-food giants McDonald’s, KFC, Starbucks, etc., with the pro-Palestine campaign having the potential to spread further across the globe.

Boycotted US companies are either perceived by pro-Palestinians to have taken pro-Israeli stances in the genocidal war on Gaza, or have financial ties to the Israel regime and/or have made illegal investments in the occupied Palestinian lands.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 29,2024

indore.jpg

In yet another setback to the Congress party amid the ongoing Lok Sabha elections, its candidate from Indore Akshay Kanti Bam withdrew his nomination on Monday, April 29, days before voting.

Interestingly, he had reached the Collector's office with BJP MLA Ramesh Mendola to withdraw his nomination. He also reportedly joined BJP. 

Senior BJP leader and state cabinet minister Kailash Vijayvargiya in a post on X said Bam was welcome to join the BJP.

"Congress Lok Sabha candidate from Indore Akshay Kanti Bam is welcome in the BJP under the leadership of Prime Minister Narendra Modi, party national president J P Nadda, Chief Minister Mohan Yadav and state president VD Sharma," he said in the post.

The Congress had fielded Bam against sitting BJP MP Shankar Lalwani from the Indore Lok Sabha seat, where polling will be held on May 13.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
April 25,2024

modirahul.jpg

The Election Commission of India on Thursday announced that it had taken cognisance of violations to the Model Code of Conduct by both Prime Minister Narendra Modi and Congress leader Rahul Gandhi.

While Modi has indulged in a diatribe against Muslims, without naming them, using terms like 'infiltrators' and 'those with more children', Rahul has been accused of making a false claim about 'rise in poverty'.

Both the BJP and INC have raised allegations of causing hatred and divisions based on caste, religion, language, and community, ANI reported.

While the EC had initially refused to comment on Modi's speeches, sources had told PTI that the commission was 'looking into' the remarks made by the BJP leader.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.