300 trucks stranded at Wagha border
MG News | February 19, 2019 at 12:43 PM GMT+05:00
February 19, 2019 (MLN): As per industry sources, around 300 trucks carrying cement are stranded at Wagha border after India clamped 200 percent duty on Pakistani products following Pulwama attacks. In addition to this, shipment of 170 containers from sea route has also stopped.
Cement exports to India are particularly of high significance, constituting 21% on average of the total cement exports over the past four years, and 16% of the current fiscal year’s cement exports till date.
Moreover, Pakistan cement exports to India during 2017-18 amounted to 1.2 million tons, whereas during 7 months of 2018-19 it was around 648,000 million tons
Keeping in view these new measures by the Indian government, exports to India are expected to suffer noticeably as Pakistan exports to India from land route constitutes around 70 percent. Nonetheless, the impact on overall balance of trade will not be very harsh due to the insubstantial amount traded.
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