Pakistan downgrades diplomatic ties, suspends trade with India

  1. Pakistan has decided to downgrade it diplomatic ties with India and suspend bilateral trade. 
  2. This decision comes after Indian Parliament adopted a resolution scrapping special status to J&K under Article 370 and passed a bill bifurcating the state into two Union territories of Jammu and Kashmir and Ladakh.
  3. Pakistan has also decided to approach the United Nations, including the UN Security Council over India’s move on Kashmir.
  4. Pakistan has also closed a corridor in its airspace which will result in an additional up to 12 minutes of flying time for overseas flights.The flights will have to be diverted to other routes due to the closure.
  5. However,experts have said that Pakistan’s decision to suspend bilateral trade ties with India would hit the neighbouring country more as they import essential items like onions, tomatoes and chemicals.
  6. Earlier,India had revoked the Most Favoured Nation(MFN) status to Pakistan in the aftermath of the terror attacks in Pulwama.
  7. Most Favoured Nation is a treatment accorded to a trade partner to ensure non-discriminatory trade between two countries vis-a-vis other trade partners.