trending Market Intelligence /marketintelligence/en/news-insights/trending/AFjtPR4lobWAioQIJzs4qA2 content esgSubNav
In This List

Pakistan halts trade, downgrades diplomatic ties with India over Kashmir actions

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Pakistan halts trade, downgrades diplomatic ties with India over Kashmir actions

Pakistan suspended bilateral trade and downgraded diplomatic relations with India following New Delhi's latest actions concerning the disputed state of Jammu and Kashmir.

The government said bilateral arrangements between the two neighboring countries will be reviewed, and India's high commissioner to Pakistan will have to be withdrawn.

Pakistan, which claims Kashmir, will also not be sending its high commissioner-designate to India.

The Indian parliament voted Aug. 6 to change Jammu and Kashmir's administrative status from a state to a union territory, giving New Delhi greater control over the region. The move followed the Indian government's revocation of a constitutional provision that granted special status and powers to the contested state.

Pakistan said it will elevate the issue to the United Nations and the UN Security Council.