In a bid to hit Pakistan economically post the Uri terror attack, India will be reviewing the Most Favoured Nation (MFN) status given to its neighbor in a key meet that will be chaired by Prime Minister Narendra Modi, officials said on Tuesday.

According to sources, the crucial meet will take place on Thursday will have in attendance officials from the Prime Ministers’ Office (PMO) and the Ministry of External Affairs (MEA).

India has granted this status to the neighbouring country way back in 1996 but Pakistan is yet to reciprocate.

The development comes a day after the Centre decided to review the eview the 56-year-old Indus Waters Treaty with Pakistan.

At a meeting of senior officials chaired by PM Modi, it was decided that an inter-ministerial commission would be set up to go into various provisions of the bilateral treaty that was signed in Karachi on September 19, 1960, out of Pakistan’s fear that since the source of rivers of the Indus basin are in India, it could potentially create droughts and famines in Pakistan during times of war.

The meeting decided to look at the full utilisation of the waters of the Indus, Chenab and Jhelum, the three western rivers of the Indus water system that flow through Jammu and Kashmir.

Around 95 percent of the waters of the three eastern rivers of Sutlej, Beas and Ravi is being ustilised by India.