Pakistan gets shocked due to stoppage of the trade from India, Bakrid faded due to the high cost of goods - Daily Current fairs


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Monday, 12 August 2019

Pakistan gets shocked due to stoppage of the trade from India, Bakrid faded due to the high cost of goods

Pakistan gets shock due to stoppage of trade from India, Bakrid faded due to high cost of goods

Pakistan has taken several major steps, one after the other, in protest against the removal of Article 370 in Jammu and Kashmir and the reorganization of Jammu and Kashmir. Apart from the closure of trains and buses between the two countries, Pakistan has also closed bilateral trade. Now Pakistan has to bear the brunt of this.

A strong blow to Pakistan

Trade with other countries is not only getting expensive but it also takes more time for them to arrive. Trade losses to Pakistan can also be estimated from the fact that between the two countries, India imports 20 percent from Pakistan, while Pakistan imports 80 percent from India. In such a situation, Pakistan is bound to suffer a major setback due to the business stoppage.

Everyday things become expensive

People and businessmen in Pakistan say that it will be difficult to celebrate Eid this time as the ban on things coming from India has increased inflation. Everyday things have become expensive due to this rising inflation. 14 items including sugar, tea, oil, cake, petroleum oil, raw cotton, cotton yarn, tires, rubber, dye, chemicals were sent from India to Pakistan.

Apart from this, Pakistan imports tomatoes from India on a large scale. Now that business is closed and tomatoes in Pakistan have reached above 300 rupees per kg, due to which Pakistanis are facing inflation on Eid. That is the reason why Eid is missing in Pakistan's markets.

Pakistan gets shock due to stoppage of trade from India, Bakrid faded due to high cost of goods
Heaps of fruit in Pakistani Markets

On the other hand, India imports a total of 19 major products from Pakistan, which mainly consisted of fresh fruits. Now when the fresh fruit is not coming to India, Pakistan has a crisis of selling these fruits. Because Pakistani farmers used to get good prices from India, but now the export of fruits has come to a halt due to which the heaps of fruits in Pakistani markets and farmers are not getting the right price.

Goods from other countries are expensive

According to the report of the Pakistani newspaper 'Dawn', the country may have to face a further crisis even before this decision. Khurshid Ahmad, chairman of the FB Area Association of Trade and Industry, said that in the textile sector, now imports from China and East Asian countries will be expensive. Apart from this, Pakistan imports tea from India on a large scale. Now Pakistan has to turn to Vietnam and African countries as an alternative and import goods from there.

Goods of India are cheap

Javed Bilwani, chairman of Pakistan Hosiery Manufacturers and Exports Association, said the textile sector is largely available on India's chemicals and dyes. He said that after the business was banned from India, now goods from India can come via Dubai. The reason for this is that Indian products are 15 to 20 percent cheaper than China and Korea.

Salim Parekh, former chairman of the All Pakistan Textile Processing Mills Association, said that Indian goods are 30 to 35 percent cheaper than Chinese and Korean goods. Apart from this, it takes less time to come in comparison to other countries. Freight costs are also lower than other countries. However, even after that Pakistan's industries say that even though there is a loss situation, they are with the decision of the country.

Indian goods can also come from other channels

He said that even now Indian made artificial jewelry, cosmetics, soap, face wash, etc. can come from other channels. Interestingly, even after the attack on CRPF personnel in Pulwama, Pakistani businessmen boycotted Indian goods. Despite this, Indian goods were being sold comfortably in the Pakistan market.

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