DAILY LATEST NEWS UPDATE:15.02.2012

Pak-India to consider trade through Khokrapar-Monabao border

KARACHI: Pakistan and India will consider starting trade through Khokrapar-Munabao route during the meeting of their commerce ministers in Islamabad on Wednesday as the two sides give final touches to agreements on liberalisation of business visas and allowing banking operations.

"I will propose my counterpart in Islamabad to open trade through Khokrapar-Munabao border, similar to what is being done at the Wahga-Attari border," said Indian Commerce Minister Anand Sharma on Tuesday on his arrival at the Karachi airport from Lahore.

He was accompanied by Indian High Commissioner Sharat Sabharwal and several other delegates. The minister is heading a delegation of over 120 businesspeople during his visit to Pakistan. He entered Pakistan on Monday through Wagah-Attari border. His visit will conclude on Thursday.

Sharma said that the two countries should develop infrastructure across Khokrapar-Munabao border to facilitate trade.

The central banks of the two counties – the Reserve Bank of India and the State Bank of Pakistan - are giving final touches to an agreement for allowing Indian and Pakistani banks to open branches in one another’s countries, he said. "This is our crystal clear policy that India will definitely open its banks' branches in Pakistan."

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Mohammed Saleem Mansoori