CURRENT AFFAIRS

Detailed explanation-1: -Top trading partners (import of “Cotton") of Pakistan in 2021: USA with a share of 30% (573 million US$) Brazil with a share of 16.6% (317 million US$) Côte d‘Ivoire with a share of 9.19% (175 million US$)

Detailed explanation-2: -The rejection of the proposal to import sugar, cotton and yarn from India means the people in Pakistan and its industry will continue to pay a higher price for these commodities, industry leaders, who did not wish to be identified, said.

Detailed explanation-3: -Pakistan’s Economic Coordination Council, a top decision-making body, allowed the private sector to import 500, 000 tonnes of white sugar from India to keep domestic prices in check. Organic compounds and raw materials for drugs made up 16.4% of total exports, and pharma accounted for 15.5%.

Detailed explanation-4: -The Imran Khan government will spend $270 million (₹1, 970 crore) to import these commodities to meet domestic shortfall and build strategic reserves. Earlier this year, Pakistan decided to import six lakh tonnes of sugar, of which one lakh tonne have already arrived.