Deputy Chief Minister of Indian Punjab Sukhbir Singh Badal has urged both the governments of Pakistan and India to ease out all issues coming in the way of two-way trade as it is the only way to break barriers.
The Indian Deputy Chief Minister was addressing the businessmen at the Lahore Chamber of Commerce and Industry (LCCI). He said that by the year 2013, the Indian Punjab would have surplus electricity and would be more than willing to export to Pakistan.
He said that a major portion of electricity was being produced through coal while more than 500 MW from renewable sources like biomass, wheat-straw and rice-straw. Another 500 MW solar electricity would be added to the national grid in next five years, he added.
Sukhbir Singh Badal said that electricity for agriculture was free in Indian Punjab while the industry enjoyed a lot of incentives, adding the bigger ones had more incentives than the middle and the smaller.
The Indian Deputy Chief Minister said the trade between Pakistan and India could go up to 10 billion dollar from only two billion dollars in shortest possible time provided both the sides take sector-specific measures.
Elaborating the point, he said the distance between Lahore and Amritsar was only of 35 minutes, while the goods coming through a third country cost 10 times more than that through direct trade. "India is one of the biggest economies in the region and offers innumerable opportunities to Pakistani businessmen."
He said businessmen must not feel any threat from entrepreneurship of Indians. Rather they should workout strategy to be competitive.
He said Indian Punjab had a big consumer market that should be captured by the Pakistani businessmen.
Sukhbir Singh Badal said the banking system between the two sides should be upgraded while student exchange programme needed to be activated in the larger benefit of the people of the two sides.
Speaking on the occasion, LCCI President Farooq Iftikhar said the non-tariff barriers being faced by Pakistani exporters were creating enormous problems. "At present, almost equal quantum of trade is going on between Pakistan and India from third destinations like Dubai and Colombo. Some kinds of bans are also coming in the way. It increases the cost for nothing in the form of freight, taxes and loss of time."
He stressed the need for special relaxation to increase the frequency of trade talks/deals, and called for a win-win start for the greater benefit of all.
He said at present direct trade volume between Pakistan and India was around two billion dollars. "We anticipate that trade figures will go as high as four to five billion dollars in a couple of years. So far as trade potential is concerned, it is estimated to be 10 billion dollars," he said.
"We are in the process of making necessary arrangements that will support the trade. Development of banking networks in both the countries is a major progress. Infrastructure development at Wagha border is underway to handle the expected quantum of trade. Other than land route, we also need to fully utilise the rail and sea channels."
Farooq Iftikhar said Amritsar and Lahore immediately required Consulate Offices of both the countries to process visa applications because it was quite cumbersome for the residents of Central Punjab to access Islamabad and Delhi.
He said tourism was another important area. "Both the countries have a tremendous potential of tourism which must be exploited. Other than excellent points for sightseeing, religious tourism also promises great openings to both the nations. It has been long standing wish of the business community of Pakistan and India that trade should be the focal point while managing the foreign relations with India. Lahore presents to Indian businessmen a great opportunity to be used as a commercial hub. Indian business community can reach Afghanistan and Central Asian States from here," he added.
Convenor of the LCCI Standing Committee on Pak India Trade Promotion Aftab Ahmad Vohra on the occasion called for establishment of an Industrial Park to overcome the visa issue.
Earlier, LCCI and Punjab Haryana Delhi CCI inked an MOU in the presence of Chief Minister Punjab Mian Mohammad Shahbaz Sharif and Deputy Chief Minister of Indian Punjab Sukhbir Singh Badal at Chief Minister House.
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