S African com­pa­nies of­fer fund­ing for rail-in­fra­struc­ture de­vel­op­ment to Pak­istan

Pakistan Observer - - ECONOMY WATCH -

Cur­rency Sell­ing Buy­ing

MIAN ARSHAD ISLAMABAD—The South African com­pa­nies have of­fered sup­port in pro­vi­sion of fund­ing, rail-in­fra­struc­ture de­vel­op­ment and ser­vices. This sup­port may be in terms of tech­nol­ogy trans­fer, train­ing of hu­man re­source and 360 de­gree lo­gis­tics in sup­ply­ing im­ported in­put for dif­fer­ent projects. A del­e­ga­tion of renowned South African com­pa­nies led by Willem Goosen of M/s Grindrod Rail and Mul­tiCon­ti­nent In­vest­ment Com­pany moved the pro­posal of sup­port to Pak­istan in a meet­ing with min­istry of com­merce here on Wed­nes­day. He was ac­com­pa­nied by Asfhaq An­war, a Pak­istani busi­ness­man in South Africa.

Min­istry of com­merce rep­re­sen­ta­tive in­formed the del­e­ga­tion that Pak­istan was deeply in­ter­ested into lay­ing mod­ern Rail Tracks and re­fur­bish­ing ex­ist­ing routes for direct and tran­sit trade with Afghanistan and Iran. The govern­ment con­sid­ered Rail-Tracks as Trade Cor­ri­dors be­cause it will play vi­tal role in boost­ing Pak­istani ex­ports and fa­cil­i­tat­ing tran­sit trades. The del­e­ga­tion was ap­pised that Pak­istan in­tended to ini­ti­ate talks with South Africa re­lated to Pref­er­en­tial Trade Agree­ment (PTA) for in­crease in ex­ist­ing trade vol­ume between two coun­tries. More­over govern­ment is deeply in­ter­ested in pro­vi­sion of in­te­grated lo­co­mo­tive ser­vices for boost­ing trade with neigh­bour­ing coun­tries like Afghanistan and Iran.

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