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Pak economy will collapse after MFN status to India

Pak economy will collapse after MFN status to India

LAHORE: Pakistani economy will totally collapse if it opens trade and gives Most Favoured Nation status to India as energy, fertilisers, diesel and pesticides are cheaper there as compared to Pakistan. Opening of the trade with the neighbouring country must be initiated after equalising cost of production.

This was stated by Agri Forum of Pakistan (AFP) Chairman Ibrahim Mughal during a press conference here at the Lahore Press club.

He said that Indian farmers are availing cheaper fertilisers, pesticides, electricity and interest rates as compared to the Pakistani farmers which enable them to produce goods and articles on cheaper cost of production.

When such production would be imported by Pakistani traders, the local production will suffer a serious setback, he added.

He urged the Pakistani government to ensure cheaper cost of production for the local industry and farmers and then start importing.

“If these steps are not taken local industry would collapse as the farmers would halt producing raw material on extra ordinarily higher cost,” Mughal said.