Easy access of banking services can bolster Indo-pak trade

LAHORE

The Deputy Chief Minister of Indian Punjab Sukhbir Singh Badal has said that easy access of banking services to the Pakistani and Indian traders and industrialists in each others’ countries can boost up trade and business to a significant level.

Both the governments need to focus on the sector besides student exchange programme needs to be activated in the larger benefit of the people of the two sides.

The Indian Deputy Chief Minister was addressing the businessmen at the Lahore Chamber of Commerce and Industry. LCCI President Farooq Iftikhar, Senior Vice President Irfan Iqbal Sheikh, Vice President Mian Abuzar Shad, former Presidents Mian Ashraf, Tariq Hameed, Vice President SAARC Chamber of Commerce Iftikhar Ali Malik, Mian Misbah- ur- Rehman, Mian Anjum Nisar, Mian Muzaffar Ali, Mohammad Ali Mian, Irfan Qaiser Sheikh and Convener LCCI Standing Committee for Pak- India Trade Promotion Aftab Ahmad Vohra also spoke on the occasion. The Leader of the Indian delegation RS Sachdeva gave very valuable suggestions in his brief address. Sukhbir Sing Badal said, 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 is being produced through coal while more than 500 MW from renewable sources like biomass, wheatstraw and Rice-straw.

He said that another 500 MW Solar electricity would be added to the national grid in next five years. He said that electricity for Agriculture is free in Indian Punjab while the industry enjoys a lot of incentives. The bigger ones have more incentives than the middle and the smaller. The Indian Deputy Chief Minister said that the trade between Pakistan and India could go up to 10 billion dollar from only $ 2 billion in shortest possible time provided both the sides take sector-specific measures. Elaborating the point he said that the distance between Lahore and Amritsar is only of 35 minutes while the goods coming through a third country cost ten times more than that through direct trade. India is one of the biggest economies in the region and offers innumerable opportunities to Pakistani businessmen.