India on Saturday raised customs duty on all products imported from Pakistan by 200%, in the wake of the suicide bomb attack in Pulwama that killed 40 Central Reserve Police Force personnel. The Jaish-e-Mohammed group has claimed responsibility for the attack.
“India has withdrawn Most Favoured Nation status to Pakistan after the Pulwama incident,” Finance Minister Arun Jaitley tweeted. “Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.”
Pakistan’s exports to India stood at $488.5 million (Rs 3,484 crore) in 2017-’18, PTI reported. Exports include fresh fruits, cement, petroleum products, bulk minerals and ores and finished leather.
India had withdrawn the Most Favoured Nation status on Friday after a meeting of the Cabinet Committee on Security. India has accorded the status to all members of the World Trade Organization in accordance with provisions of the Article 1 of General Agreement on Tariffs and Trade, 1994.
Jaitley had also said that the government will also take all diplomatic steps to ensure Pakistan is globally isolated.