LUDHIANA: To save the local industries, the Punjab Small and Medium Enterprises Association (FOSPIA) has urged Punjab legislators to seek central government intervention in signing a free trade agreement (FTA) with Pakistan. The association has written to all Punjab Lok Sabha members, urging them to urge the central government to quickly sign a free trade agreement with Pakistan to save Punjab’s industries from being destroyed. The association said local businessmen can use Pakistan as a gateway to export to other countries, including Russia, Europe and Arab countries, by road. Manufacturing in Punjab of bicycles, sewing machines, machine tools, auto parts and fasteners has become increasingly unprofitable as the state is far from ports, raising the prices of steel and other products. Punjab’s proximity to the Pakistan border has also hindered business opportunities. Industry players said Pakistan’s status as a border state has discouraged big companies from investing. Association president Badish Jindal said goods like iron products, tractors, combine harvesters, bicycles, sewing machines, medicines, hand tools and machinery manufactured in Punjab are in huge demand in Pakistan. Hence, Pakistan can be a big market for industries here. He said that in 2019, the Indian government imposed 200% import duty on Pakistani products in protest of Pulwama but despite that, exports from India to Pakistan increased by 96% last year. Major exports to Pakistan include sugar, animal feed, chemicals, tar, garments and medicines. Jindal said, “The situation in Pakistan has changed now. Foreign Minister Ishaq Dar, who is also former finance minister, highlighted the trade issues between India and Pakistan at a press conference, highlighting the concerns of Pakistan’s business community.” Dar also said, “Pakistan has to import goods from India via third countries, which is very costly. In such a situation, India should enter into a free trade agreement with Pakistan as soon as possible.”
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