|
|
Pak economist sees huge prospects for trade with India
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 14 Apr, 2012
Eminent economist and former governor of State Bank of Pakistan Ishrat
Husain said Friday he saw huge prospects for bilateral trade with India
with both the countries taking steps to allow larger flow of goods.
Speaking
to reporters here, Husain said he hoped that by December Pakistan would
remove 1,200 items from the negative list to ensure that all items are
traded between the two countries.
Husain, dean and director,
Institute of Business Administration (IBA), Karachi, was talking to
reporters on the sidelines of a ceremony to sign MoU with the Indian
School of Business (ISB) to offer executive education in Pakistan.
A
strong advocate of friendly relations, Husain noted that the number of
items which India can export to Pakistan has increased from 1,200 to
6,800.
"About 75 percent of all traded items can now be traded
between the two countries as compared to only 15-20 percent which was
the case before. I think this is the big movement, and by December even
these 1,200 items which are on negative list will also be phased out. So
there will be no negative list, no positive list. All items between the
two can be traded."
Husain said that granting Most Favoured Nation (MFN) status to India would benefit Pakistan.
He
pointed out that the trade ministers of Indian and Pakistan were
inaugurating the integrated border post between Wagah and Attari which
would take the number of trucks to 10 times from the present level.
"It
is in anticipation of larger flow of goods from both the countries.
They have revamped custom clearance procedure, infrastructure around
there. All these measures have investment cost. They won't invest that
much money unless there is an expectation that volumes of trade will go
up," he added.
Impressed by the economic progress India has made
over the last two decades and its advancement in science and technology,
Husain said Pakistan being India's next door neighbour should benefit
from this.
"I personally think being next door neighbour of India can do a great deal of good to Pakistan," he said.
He
also hoped that both the countries would dismantle barriers like issue
of visas, telecommunication linkages and aviation exchanges.
On
the Pakistani economy, he said the inflationary pressures were high
because of the elections. "This being election year you always expect
fiscal side to be under very big pressure. You don't remove subsidies.
You don't raise revenues. You keep on spending money. So because of that
the borrowings from the central bank will be quite high and this is why
the Asian Development Bank is saying that inflationary pressures will
be quite large."
He hoped that in 2013 when elections would be over the Pakistani economy would bounce back from its present situation.
|
|
|
|
|
|
|
Joint Countries
Surinder Marwah | Fri Jun 3 02:38:39 2016
It is a very ve step towards growth of both the Nations. I see this as our last lot of Migrants from Pakistan 1947 *see with a great hope that. Lets we think as a Joint Family living in one building with their Individual kitchens. Let us benefit young from both the Countries as when we are very good friends in rest of the workd why when we back to our own Countries can not call each other. This will start with a small initiative, not with very big. Hope my father see this in his life time as he is already eighty five years & my mother too of similar age. They always wanted to go Gujranwala & jhung to see their ancestral house. My parents good wishes for both The Great Countries.
India ; Pakistan a step ahead
Surinder Marwah | Fri Aug 3 11:17:21 2012
If you walk one thousand kilometer ; you have to take 1st. step ; in the right direction ; this is the the right direction.
Hope we can understand each other, better ; we can earn & learn.
Neighbour & Shoe both should you feel confirtable
Surinder Marwah | Sun Apr 15 13:50:35 2012
Safety & security is one thing for a business is confidence building.
We have come a long way now is the rite time to come closer as both the country are serious & the important part is the people wants now to share.
i had an opportunity to meet the delegation from Pakistan in Delhi ; no side of both the countries; intrested in Blood shed or killing; they want a TRY; Many many more opportunities will automatically open.
Also; our elders are optimistic.
Give a chance to a New Hope.
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|