Today : Tuesday - Sep 23, 2014, 11:52am (GMT+5.5)
All News  
Top News
National News
International News
Business News
Sports News
   » Cricket
   » Football
Entertainment News
Sci - Tech
Politics News
Health & Fitness
Gulf News
::| Latest News
News in Pictures

Seemingly unfazed at being ousted from the Asian Athletics Association, scam-tainted Suresh Kalmadi on Monday said losing the presidential re-election bid to Qatar’s Dahlan Jumaan Al-Hamad has actually given him a chance to work at the “grassroots” level.
“I have no issues today and I congratulate Mr Al-Hamad for being elected as President. I am rather relieved that I will be able to work at the grassroots level in athletics,” Mr. Kalmadi said after losing the vote during the ongoing AAA Congress in Pune.

National News

Pakistani economist sees huge prospects for trade with India

Saturday - Apr 14, 2012, 11:50am (GMT+5.5)
[+] Text [-]

Hyderabad - 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.


Rating (Votes: )   

blog comments powered by Disqus

Other Articles:
Gujarat seeks policy on staged shootout probes (14th Apr, 2012)
Twitterati target Mamata regime for professor's arrest (14th Apr, 2012)
India condemns bomb attack in Bahrain, all Indians safe (14th Apr, 2012)
Sunny, pleasant day in Delhi (14th Apr, 2012)
Trans Damodar Coal Mining Project inaugurated (14th Apr, 2012)
Government probing speculation in agri commodities (14th Apr, 2012)
Day after assault on journalist, Maharashtra minister visits spot (14th Apr, 2012)
India proposes norms for Indian Ocean anti-piracy patrols (14th Apr, 2012)
Seven electrocuted to death in Jharkhand (14th Apr, 2012)
Woman branded witch, tortured in Rajasthan (14th Apr, 2012)
Bhagidari will be introduced if Congress wins: Dikshit (14th Apr, 2012)
Explain delay in giving free books to poor: Court (14th Apr, 2012)
Court allows Morani to attend IPL matches (14th Apr, 2012)
Speed up poll reforms, Quraishi urges PM (14th Apr, 2012)
US apologises for frisking SRK (14th Apr, 2012)
No arrest for Nupur Talwar, rules apex court (14th Apr, 2012)
MCD councillor who instigated murder gets bail (14th Apr, 2012)
Berlusconi admits paying girls to attend sex parties (14th Apr, 2012)
Sibal attacks 'multi-level corruption' in BJP-led MCD (14th Apr, 2012)
Shehla murder: Accused blames BJP legislator (14th Apr, 2012)
Infosys denies misusing US visas (14th Apr, 2012)
PM hopes parliament will pass companies bill 'shortly' (14th Apr, 2012)
First swine flu death in Mumbai (14th Apr, 2012)
Woes for Chandy as IUML given fifth ministership (14th Apr, 2012)
SRK again detained at US airport, India tells US sorry won't do (14th Apr, 2012)

Contact Us | Advertise with Us | Privacy Policy | Disclaimer | Terms of Use