‘India willing to invest at least $20b in Pakistan’
He added that the Indian private sector has also shown eagerness to export electricity to Pakistan through Wagah-Attari border and can lay electricity lines within months for this purpose. At the Nuclear Security Summit in March, India had formally offered Pakistan 5,000MW of electricity during a brief meeting between Indian Prime Minister Dr Manmohan Singh and Prime Minister Yousaf Raza Gilani.
After enhancement in trade ties, opportunities for big projects like gas pipeline project between Turkmenistan, Afghanistan, Pakistan and India will further increase. He stated that access and acceptability for Pakistani products in Indian markets has been improved after recent initiatives to improve relations between both governments.
PIBC Chairman also examined that India has developed infrastructure in tourism, information technology, agriculture, business and industrial fields and Pakistan can take advantage from Indian experiences.
Moreover, Pakistani businessmen and industrialists should avail opportunities in this regard through hard work and honesty. PIBC has also suggested to governments of both the countries to establish joint industrial and economic zones.
Published in The Express Tribune, May 2nd, 2012.
COMMENTS (57)
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@Dr Misra, Yorkshire @shadowliner
One word. Thanks.
@vikash
You seem to have a lot of pent up feelings as evident from your long winding diatribes which is past expiry date.Don't live in the past.Future lies in how we act in the present.
Vikas, from one Indian to another- you completely missed the humour and sarcasm in "politically incorrect's" post. He is not against Indian investment, and his dig that "the investment money should be halal in the land of the pure" was brilliant self-deprecating irony,
Sorry, you missed it. Please do not just shoot off indignant posts. Make friends here with the Pakistanis, build bridges.
I would read the fine print multiple times before allowing India to invest!
http://www.remittancesgateway.org/index.php/press-clippings/flows-information/1012-pakistan-remittances-from-gcc-may-hit-9b
@ Raw is WAR.
Maybe after this investment by India in Pakistan, Pakistanis will appreciate the business acumen of Indians and realize that they are on to something and they can both flourish and prosper. It is a win win situation for both countries.
@Hasan Awan: If you need incentives & protections you are not a patriot. If you truly love your country you should send the money & hope for the best.So lead, follow or get out of the way.
Thank you all for your good suggestions. Negative thoughts and comments take us away from achieving desired results.
@ vikas: Dude, ever heard of the concept 'sarcasm?'
@ Awais
11 Billion USD may look a great amount for a country like Pakistan.
there are more than 5 million pakistani working overseas. mostly in middle east. It means they are making hardly Rs1.5 lakh per month apice. That too working abroad. This kind of pay has become normal in India to even in-experienced workmen.
@kasai: Pakistan trade deficit for 2010-2011 was over $11 billion. This figure is from SBP. Forecast for 2011-2012 will be higher. Yes Pakistan is shining and growing.
We several overseas who are professionals in every field from auto manufacturing It and medical field and I have news for you not everyone is doing menial jobs. If you think doing a job with honesty and integrity is menial then you are right. Most Pakistani professional (overseas) are honest. We have several prominent Pakistani multi millionaires like shahid ali khan whose firms making mufflers for most of the autos sold in the USA. Investment by indian businessmen is a great india and if Taiwanese can make China great then let us welcome the indians do the same for all the countries in the region. When we people know each other then differences and fears give way to understandings.
Property and food prices will grow UP.
@kasai: yes Indian economy is slowing. All economies are slowing also china. But still so called HINDU RATE OF GROWTH is more than our so friendly country in neighbourhood and in 2011 india GDP growth was 7.1 % and 2012 according to IMF it will not be 6.9% this year.and india still is a second fastest major economy Wait for results. . india AND CHINA GROWTH RATE BETWEEN 2011-2013
@abbas: One of the few sober comments on this page , how easily we start fighting
Dear Mr Isthtair Hussain, the Indian economy isn't just having a hiccup. It is in very serious trouble. The fundamentals aren't even there. All you have is a big population and lots and lots of bragging, boasting and showing off. Bu that just doesn't wash anymore. Investor confidence in India has evaporated. As some body earlier pointed out they are running a huge deficit. India is an economic ticking time bomb. When it goes off, it is going to be very ugly indeed.
@kasai: India is capable to overcome the financial crisis,just look at your countris present situation. So don't worry of india's economy,save your country.
So many of the above comments provides how successful such investment ventures would be if these are done with out bringing pple from both sides of the border closer to each other. Success indicators would be: a) We stop exchanging such comments b) We stop celebrating each other losses (we normally love it when Indian team lose a match and vice versa).
Indian businessmen are risk takers and invest in all sorts of risky places. We have invested heavily in Afghanistan mining and will do so in Pakistan as well. Hindu businessmen are still living in many parts of Pakistan and Afghanistan with all the odds. Our Marwadi businessmen can go anywhere if there is money. India will give much better terms of trade to Pakistan than any other country as costs involved for Indians will be much lower.
@kasai:
Obviously, the Indian economy has become weak off late. But India's economy is much stronger as compared to our's. Just keep in mind that India is not on IMF's lease of life.
It is really interesting to read ET not due to News but comments. Comments from both side are very entertaining.
@Ahmed: So why Pakistani Rupee is even weaker than Bangladesh currency.. Why Pakistani rupee is hovering aorund 90.....please answer ...
It's heartening to know that Pakistan and India are getting closer for the sake of solving the region's common problems. India is an emerging global power and we need to be on friendly (or may I say brotherly) terms with India. Both countries will benefit from each others. As far as Pakistan is concerned, winds of change are now refreshingly blowing. Establishment is not as powerful now as it used to be and even some elements inside the establishment now want to improve relations with India. We should not allow other powers such as USA and China to spoil our relations.
If you read the comments of Indian trolls you would feel that India is heaven on earth and all Indians are born rich and grow richer by the second. Their country is the ultimate superpower and has already establishment human settlements on Mars, Jupiter and the Sun.
@Ahmed: then you compare with the size of economy. 180 billion of 1.8 trillion dollar economy is 10% while in pakistan's case it is 30% approx. India have BOP set right while pakistan has to beg to finance anything and everything
Dear Mr Brute Force, it isn't just the global recession. There are very serious problems with the Indian economy that the India shining hype just can't hide anymore: poor infrastructure, runaway inflation, weak rupee, lack of an industrial base, opportunistic political leadership, collapse of invester confidence etc etc etc
India is in VERY serious trouble.
@Awais: 'Is that why they are remitting $12-14 billion to Pakistan each year? There are over 3 million Paki overseas. Every month, they send some money to their families back in Pak from their salaries for support.Therefore you have this 12.14 billion.
Bravo!!!!! Pakistan and India need to invest and trade like the EU or NAFTA. No having done so for so long has just resulted in poverty, ingnorance, illiteracy and war. Enough is enough!!!!
@gp65 "I am sure this information would be of great interest to their current Indian shareholders."
You are spot on. If I happened to be an unfortunate share holder I will exit the stock at the first oppourtunity
@Hasan Awan "Overseas Pakistanis want to invest more than 100 Billion Dollars in Pakistan."
Why would overseas Pakistanis invest 100 billion in Pakistan. They are neither that sentimental nor that crazy. If they were so they would not have gone overseas in the first place.
@gp65: Mukesh Ambani and Lakshmi Mittal are two names and to check how much they are worth in business, check google.
Thanks
@Vigilant..Last year India got $64 billion of remittance, this year it may touch $70-75 billion because of devaluation of rupee. Moreover there are many billionaires outside India. Example being in UK richest person is Indian. Many pakistanis live in UK and everyone know what are their achievements are.
@ Raw is War
Overseas Pakistanis are not that rich.
Is that why they are remitting $12-14 billion to Pakistan each year?
India in this fiscal year ended March 31, 2012 had a current account deficit of 189 Billion US Dollars. Compare this Pakistan's overall loans of 60 Billion Dollars and current account deficit of 2.5 Billion Dollars.
They are running their country on loans and "a dream or expectation of fast returns". Whenever, they would fall (like Greec, Spain, etc.) they will take the entire Europe and North America with them.
India is an expectation-based economy. In terms of macro-economic fundamentals, Pakistan is still in much better position. Only problem we have is strategic vision and direction.
Investment in energy sector from India, I dont think a perfect idea it is. European countries should be invited first and yes as said above "overseas Pakistanis".
@kasai:
Haven't you heard? The World is in recession.. Indian economy is still growing at 6% plus, which is DOUBLE what Pakistan can muster. I think it is doing alright, don't you?
Making investment is a later step to start of with Ind / Pak should consider the following: a) Easier access to visas so that pple can meet families and visit both sides of the border easily. b) Formally allow (specifically Ind) culatural / media exchange. Pakistani channels should be allowed just like we have numerous in Pakistan. c) More flights / border openings with higher volume of trade of agri products. Making investments will mainly benefit capitalist / industrialist not the nations atleast at this stage.
Indian investors should be asked to provide evidence that the money (to be invested) is 'halal' money.The purity of our land is non-negotiable.
@ vigilant
Overseas pakistanis are mostly laborers and daily wage earners. They usually remit everything they have and sustain on starvation diets in foreign countries. I work inn UAE and know it well. Beleive me when I say- beyond 11billion USB, they will hardly have anything else in bank.
So 100 Billion USD is a pipe dream.
@Hasan Awan: Did you say $100 billion? Yaar, even when you want to blow hot air, do it reasonably. Pakistanis abroad only do menial jobs like driving taxis etc. Very few people are literate enough to hold high-paying jobs.
India invested in Afghanistan, Bangladesh, Srilanka, Nepal and even in US, UK, europe. etc. Whats the problem if India invests in Pakistan? Investment is always giving mutual benefits.
Investment in each others countries is a long way off , first let the trade grow so we develop confidence in each other.
@Hasan Awan: Muslim self-righteous exaggeration knows no limits.
@Raw is War.: "Overseas Pakistanis are not that rich" you sound funny mate....last year Overseas Pakistani remitted $11billions to their families.....& what is remitted by hundi no one knows.......overseas Pakistani are investing in other countries.....if they had opportunities and protection of investment i am sure $100billions can be invested in 5 to 10 years
The Indian economy is in a crisis. Some economists are predicting a catastrophe. All are saying the Indian growth story is over. What can a desperate India do for Pakistan?
Not a good idea, that is how a cunning, sly fox infiltrates a place and takes possession of something. Not a good idea for Pakistan at all. There are definitely ulterior motives behind this idea from India. Once your in, you can do whatever you want and spy and just look around and see what is happening, brainwash people to do things your way because you have the money as money is power and most importantly, Israel is a close friend of India and they want Indians to spy on Pakistan, It is just like friendly fire. Do it with caution if you have to Pakistan but be aware, proceed with caution at every step. But then again everyone has a price and if they find a pakistani willing to accept their money/millions which is easy as most people are corruptable, it will probably happen and who knows what the results will be. Only time will tell.
fishy idea, they just want to spy on Pakistan and tell Israel what they want to know.
Fishy fishy...
World is investing in India and Indian investors are up for investing in Pakistan.
Why does government of Pakistan not encourage and faciliate those who have already invested in Pakistan. They might come up with better investment proposals. Tax notices, new levies of all kinds (city, provincial, federal etc.) haunt the businessmen, administrative hassles in dealing with goverment departments, sense of insecurity, IP rights and so on...
Expat community also needs to be tapped and managed professionally.
@ Hasan Awan
Overseas Pakistanis want to invest more than 100 Billion Dollars in Pakistan.
Overseas Pakistanis are not that rich.
@Hasan Awan: the most FDI pk got in a whole year is less than $6bil, we should welcome Indian investments in energy and manufacturing.
Good for both the countries. They should work together for future generations.
Finally, India and Pakistan further progressing their ties. A strong tie between them is better for the both our nations. Keep up the good work.
So can Mr. Kasuri name at least 2-3 Indian industrialists who are looking at investments greater than $1 billion Pakistan? I am sure this information would be of great interest to their current Indian shareholders.
Lol
Overseas Pakistanis want to invest more than 100 Billion Dollars in Pakistan. First give them incentives then invite your neighbors as obviously Pakistani interests will be in Pakistan while Indian's interest will lie in India. There more than 5 million people of Pakistani origin living abroad and they want to invest and there are no incentives for their investment protections in Pakistan for them.