India clears sale of "enemy shares" held by people who moved to Pakistan


  • World
  • Friday, 09 Nov 2018

FILE PHOTO: India's Prime Minister Narendra Modi gestures as he addresses the gathering during the 'Global Mobility Summit' in New Delhi, India, September 7, 2018. REUTERS/Adnan Abidi/File Photo

NEW DELHI (Reuters) - India's government said it will sell stocks worth millions of dollars seized from people who moved to Pakistan following partition in 1947 and the wars since, as a way to make up for a shortfall in revenues.

The stocks worth at least 30 billion rupees ($412.26 million) are part of what India calls "enemy properties" that once belonged to people who went to Pakistan and China, with which India also fought a war.

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