# Indus water treaty

• Citing Pakistani intransigence and unilateral actions related to the the 1960 Indus water treaty, India has sent notice to Islamabad for modification of the treaty.
• The world Bank which is also a signatory to IWT, in October last year appointed not just a neutral expert to examine the issue but also, at Pakistan’s insistence, a court of arbitration chairman, despite acknowledging India’s concern that carrying out the two processes concurrently posed practical and legal challenges.
• India is also hoping the modification will lead to an update of IWT by incorporating the lessons learned over the last 62 years.
• India and Pakistan had negotiated for nine years before finally signing in 1960, the Indus water treaty.

# Wheat price

• The wholesale wheat prices in major mandis of MP, Haryana, Punjab, UP and Rajasthan fell up by upto 10% on Friday from peak of ₹2950 per quintal on Wednesday.
• Prices came down after the centre announced open market sale of 30 lakh tonnes of foodgrains till mid March.
• In Delhi and Ghaziabad, the wholesale price fell by ₹200-300 per quintal by Friday afternoon.

# Nicobar transhipment port

• Taking forward the plan to develop a mega International transhipment port in Great Nicobar island, the shipping ministry will invite bids from prospective players on Saturday.
• The port will be developed with an estimated investment of ₹41000 crore.
• The government is aiming to complete the phase 1 of the terminal in 2028.

# Pakistan

• The Pakistani rupee continued to depreciate in the interbank market on Friday, closing at ₹262.6 per dollar, down ₹7.1 Or 2.7% from a day’s earlier close.
• The sharp devaluation occurred after the government removed an unofficial cap on the exchange rate of Pakistani ruppe against the US dollar.