India to review MFN status awarded to Pakistan
After an attack on a military camp in Indian occupied Kashmir, the BJP government of India has launched reprisals against Pakistan holding the country responsible for Indian misrule in Kashmir.
Modi has called a meeting with top officials of the government on Thursday for a review of the MFN status awarded to Pakistan in 1996.
A day earlier, Modi had reviewed the 56-year-old Indus Waters Treaty with Pakistan, an agreement of river water sharing which could not be revoked unilaterally.
The bilateral trade between the two neighboring countries is meager due to disagreements and mutual distrust.
India had accorded the MFN status to Pakistan in 1996 as a member of the World Trade Organisation (WTO).
According to the MFN principle of the WTO’s General Agreement on Tariffs and Trade (GATT), each of the WTO member countries should treat all the other members equally as ‘most-favoured’ trading partners. It means equal opportunities of trade to all without any discrimination.