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No decision on permitting FDI from Pak: Govt

Press Trust of India  |  New Delhi 

The government today said it has not taken any decision on allowing investments from

"No decision has been notified by government in regard to permitting investments from on par with Bangladesh," Minister of State for Commerce and Industry said in a written reply to the Rajya Sabha.

Earlier, a government official had said the Industry Ministry has written to the Finance Ministry to permit foreign direct investments (FDI) from

The Department of Industrial Policy and Promotion (DIPP) had sent a proposal to Finance Ministry for changes in Foreign Exchange Management Act (Fema) to allow from Pakistan.

The government had allowed investments from Bangladesh under the government approval route.

In an another reply, Scindia said that recently High Commission of India in Islamabad has forwarded a negative list of 1,209 items as reported to be approved by the Pakistan Cabinet.

"This shall substantially improve the prospects of export from India to Pakistan," he added.

Earlier this month, a meeting of the cabinet chaired by Pakistan Prime Minister Yousuf Raza Gilani had approved introduction of a negative list of 1,209 items that cannot be exported from India.

This decision would mean that India can export 6,800 items against 1,950 at present.

The move would help in normalising trade between the countries.

First Published: Wed, March 14 2012. 15:51 IST