“India’s 200% import duty on Pakistani products: A just response to hostility, leaving Pakistan’s economy in tatters”, Opindia, May 19, 2024:
“On 17th May, Pakistan’s Foreign Minister Ishaq Dar acknowledged that the trade ties with India went south after the Pulwama terrorist attack on 14th February 2019 in which India lost 40 brave soldiers. Following the attack, India took some immediate steps to reduce trade with the hostile neighbour including the imposition of 200% import duty.
Firstly, India announced that Pakistan was no longer on the list of ‘Most Favoured Nations’ or MFN. Secondly, India immediately imposed a 200% import duty on all products coming from Pakistan. The neighbouring country’s track record in supporting terror activities in India resulted in a massive economic blowback.
The air strike came much after these initial steps to break Pakistan’s morale economically. Following the decision, then-Finance Minister Late Arun Jaitley wrote on X (then-Twitter), “India has withdrawn MFN status to Pakistan after the Pulwama incident.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% with immediate effect……”
Read the full article at Opindia.com
