Pulwama attack: India strikes Pakistan economy; raises custom duty on all imports by 200%

India on Saturday raised customs duty on all imports from Pakistan to 200% after withdrawing the most favoured nation or MFN status.

All goods exported from Pakistan to India has been raised to 200% with immediate effect. (Image: AFP)

Pulwama terror attack: In a diplomatic crackdown and economic strike against Pakistan over the coward terror attack in Jammu’s Pulwama district, India on Saturday raised customs duty on all imports from Pakistan to 200% after withdrawing the most favoured nation or MFN status. Confirming the development on micro-blogging site Twitter, Union Finance Minister Arun Jaitley said, “India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.” A day after the suicide attack conducted by a Pakistan-based terror outfit Jaish-e-Mohammad which took lives of as many 40 CRPF jawans, India stripped Pakistan of the MFN status that offered the neighbouring country several trade benefits. Apart from this, India has also initiated a coordinated move to put international pressure on Islamabad to crack down on terrorists operating from its soil. Jaitley also stated the Central government will take all steps to ensure the “complete isolation” of Pakistan. In a  Cabinet Committee on Security(CCS) meet, Jaitley said all efforts will be made to ensure that perpetrators of the attack are brought to book. MFN status is given to a trade partner to ensure non-discriminatory trade between two countries. India granted MFN status to Pakistan in 1996. Talking tough, Jaitley said those aiding and abating the perpetrators will have to pay a heavy price. Even the Ministry of External Affairs assured that it will take all possible diplomatic steps which are to be taken to ensure complete isolation of Pakistan in the international community. India government said it has all the "incontrovertible evidence" to prove Pakistan's involvement in this gruesome terrorist attack. Nationwide mourning can be observed at the last right rituals of those 40 CRPF brave hearts took place in different parts of the country on Saturday. In a hard-hitting speech, Modi said the "blood of the people is boiling" and forces behind the act of terrorism will be definitely punished"