Pak business leader calls for trade resumption with India to reduce inflation

Amid the mounting inflation in the country, the chairman of Pakistan's National Business Group has called for the resumption of trade ties with India.

Direct import of raw material and other inputs from India will also reduce the cost of production and boost exports, said Chairman of National Business Group Pakistan, and former provincial minister Mian Zahid Hussain on Wednesday.

Hussain said that the effective way to provide relief to the Pakistani people by reducing inflation is not a controversial and impractical package, The Frontier Post reported.

He said that the restoration of trade relations with India will help reduce inflation in Pakistan.

According to the Pakistani business leader, restoring trade relations with the neighbouring country whose economy is double than Russia remain hostage to politics.

He said that some trade with India is taking place through the UAE, but it increases the prices and makes production and exports more expensive.

Realizing the situation, Zahid Hussain argued that trade should be opened with India so that the cost of production and inflation in the country can be reduced.

India imports USD 400 billion worth of goods annually which includes some of Pakistan's imports through the UAE.

According to media reports, if Pakistan can get a 2 per cent share in Indian imports, it will be 8 billion dollars, but this opportunity is constantly being ignored for the sake of politics.

Earlier in 2019, Pakistan had snapped all air and land links with India and suspended trade and railway services, following New Delhi's decision to revoke the special status of Jammu and Kashmir.

( With inputs from ANI )