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SAFTA decision deferred

B. Muralidhar Reddy

ISLAMABAD: Pakistan has deferred a decision on ratification of the South Asia Free Trade Agreement (SAFTA), which was scheduled to come into force from January 1.

The Tuesday decision came at a Cabinet meeting presided by Prime Minister Shaukat Aziz amid speculation in the media over differences within the Government on formal seal of approval.

Information and Broadcasting Minister Sheikh Rashid Ahmed said the decision was taken due to "paucity" of time as Mr. Aziz was scheduled to leave on a week-long tour of the U.S. beginning on Wednesday.

A substantial section of the media for the last few days has been discussing the view within the Government that it would not be prudent to ratify the SAFTA without a resolution of the Kashmir issue with India.

The reports imply that in the context of India, operationalisation of the SAFTA would mean conferment of most favoured nation (MFN) plus to India. According to these reports, the Commerce Ministry has recommended to the Cabinet conditional ratification of the treaty to ensure that India does not get optimum benefit.

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