Pak won't make any 'emotional decision' on withdrawal of MFN status: Official

February 15, 2019 21:23

Pakistan will not make any 'emotional decision' following India announced the withdrawal of the Most Favoured Nation (MFN) status to the country and respond to it after due deliberation, a senior official said on Friday.

India on Friday revoked the MFN status to Pakistan in the aftermath of Pulwama terror attack.

Advisor to Pakistan Prime Minister on Trade Abdul Razzak Dawood told reporters in Islamabad that a response to Indian decision would come after due deliberation.

"India has removed us from the list of MFN nations but we will not make any emotional decision and will issue a response after making due thinking," he said.

Withdrawal of the MFN status would significantly hit Pakistan's exports to India, which stood at $488.5 million (around Rs 3,482.3 crore) in 2017-18.

But a finance ministry official told PTI that the impact of India's decision will be marginal.

"As the trade between the two countries was just over $2 billion dollars and Pakistan's exports were a fourth of it.

"So Pakistan is not going to lose much in terms of money in the short term," the official said.

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.

Withdrawal of the status would mean that India could impose heavy customs duties and discriminate Pakistani goods vis-a-vis similar items of other trading partners. -- PTI

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