Pakistan Strategy_ Pak India relations - back to Track-II , (AKD Daily, Mar 29, 2021)
AKD Daily Pakistan Strategy: Pak India relations - back to Track-II · Improving relations with India is a breath of fresh air after past few years had been marred by hostilities between the countries. Easing of tensions was initially highlighted from the negotiated cease-fire agreement on the border, followed by the courteous public messages delivered to PM Khan from his Indian counterpart. · To recall, following hostilities, India revoked Most Favored Nation (MFN) status granted to Pakistan in Feb’19 whereas Pakistan retaliated by imposing an import ban on Indian goods in Aug’19. As a result, total trade with India nosedived to US$403mn in FY20 from US$2.2bn in FY18 — standing at its lowest point since FY03. · Improving trade prospects is beneficial particularly for Cements, Chemicals, Pharma and Textiles in our view. A potential resumption of Cement exports to India can uplift export volumes for MLCF and DGKC particularly while LOTCHEM can also return to India for sourcing of PX thereby mitigating the impact of higher freight costs on imports from Middle East. · Improving relations, both with India and US, would have reverberations across different mediums including, i) Pakistan’s drive to elevate itself from FATF grey list (Next review: Jun’21) , ii) continuous nod from world agencies on Pakistan’s economic reforms story, iii) potential vaccine imports from India, and iv) Food-related imports from India to help contain food inflation in short run. AKD Research
Maple Leaf Cement Factory is engaged in the production and sale of white cement, grey cement and clinker. Co. is a subsidiary of Kohinoor Textile Mills Limited.
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