Kolkata, March 17 (IANS) Asserting that Pakistan would confer India the status of most favoured nation (MFN) once the dialogue process resumed, Pakistan High Commissioner to India Abdul Basit Tuesday claimed that his country had almost extended the facility in March 2014 before it was informally
India is unlikely to be granted the `Most Favoured Nation` (MFN) status before 2014 Lok Sabha elections and resumption of composite dialogue between the two nations, Pakistan Finance Minister has said.
With the Most Favoured Nation (MFN) status likely to be granted to India and phasing out of the negative list from 1,209 items in near future, bilateral trade between India and Pakistan is expected to touch six billion dollars in next three years from the present level of around two billion dollars.
Taking major steps towards boosting bilateral trade, India and Pakistan on Thursday agreed to ease visa regime for businessmen and Islamabad assured New Delhi of moving to negative list of imports by this month-end before phasing it out by year-end making way for MFN status hanging fire for over 15 years.
The much-hyped visit of a high-profile business delegation led by Commerce Minister Anand Sharma today failed to get the Pakistan government clear hurdles in normalising trade and set itself on course to granting MFN status to India.
Commerce and Industry Minister Anand Sharma on Sunday left for Pakistan amid high expectations that the neighbouring nation will announce the first major step to normalise trade with New Delhi and eventually grant the much-awaited MFN status to India by the year-end.