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


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.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Interview: Inclusive multilateral cooperation needs focus on well-being of people, planet: UN expert
South Africa will deploy army to step up fight against organised crime
Egypt announces new gas, oil discoveries in Western Desert
High winds cause injuries, transport disruption in northeast Spain
Infant dies after fire in high-rise building in Berlin
Portugal approves restrictions on social media access for children
Infant dies after fire in high-rise building in Berlin
Italy's Lollobrigida wins second gold at Milan-Cortina Games in women's 5,000m speed skating
Trump is ending deportation surge in Minnesota, White House border czar says
Austria's Haemmerle defends Olympic snowboard cross title in epic final

Others Also Read