India revokes MFN status accorded to Pakistan

• India on February 15, 2019 revoked the most favoured nation (MFN) status in trade from  Pakistan. This comes in response to the terror attack in Pulwama in Jammu and Kashmir that claimed the lives of 40 CRPF personnel.

• Pakistan was given the status of most favoured nation (MFN) in the year 1996. The removal of the same will allow India to put higher import duties on Pakistani goods.

• What is MFN Status: 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.

Points to remember:

1. Full form of MFN?
2. In which year India gave the MFN status to Pakistan? 
3. MFN status is governed by the WTO’s General Agreement on Tariffs and Trade (GATT)