Open­ing ac­count in Swiss banks no more easy: En­voy

The Pak Banker - - NATIONAL -

Switzer­land Am­bas­sador in Pak­istan Mark P.Ge­orge said on Thurs­day that open­ing ac­counts in Swiss banks was not as easy as it used to be some time ago. Banks now de­manded proof of tax pay­ment and that money had been earned through le­git­i­mate means, the Am­bas­sador said while ad­dress­ing a gath­er­ing of in­dus­tri­al­ists at the Multan Cham­ber of Com­merce and In­dus­try (MCCI). Gone are the days when peo­ple used to take ad­van­tage of lesser re­stric­tions and checks to de­posit black money, the en­voy said.

He said ex­pa­tri­ate Pak­ista­nis and Pak­istani Am­bas­sadors could play role to im­prove ex­ports to other coun­tries. To a ques­tion, he said pro­vid­ing jobs to a large num­ber of Pak­istani youth in Switzer­land would be dif­fi­cult. How­ever, he said that highly ed­u­cated Pak­ista­nis could be ac­com­mo­dated in ac­cor­dance with our needs. When asked about ex­port of Pak­istani mango to Switzer­land, he said more work was needed to be done be­fore reach­ing this stage.

He said open­ing a busi­ness cen­tre or mini con­sulate in Multan would be costly. He, how­ever, said it was an age of tech­nol­ogy and peo­ple could con­tact Swiss Busi­ness Coun­cil in Karachi where they could find in­for­ma­tion and con­tacts of 23 big Swiss com­pa­nies. He said peo­ple could also con­tact Swiss em­bassy in Is­lam­abad for the pur­pose. He said he was happy to see Pak­ista­nis in­clud­ing traders and busi­ness­men, avail­ing mod­ern tech­nol­ogy fa­cil­i­ties. Mark P. Ge­orge said Switzer­land paid full at­ten­tion to de­vel­op­ing its agri­cul­ture sec­tor and univer­sity education with more thrust on re­search.

Our re­searchers make a dif­fer­ence wher­ever they go or which ever or­ga­ni­za­tion they join and open new venues of de­vel­op­ment. He said Swiss govern­ment also fo­cussed on de­vel­op­ing its vo­ca­tional education and train­ing, adding that even the de­vel­oped coun­tries ben­e­fit from our vo­ca­tional train­ing fa­cil­i­ties.

The Swiss en­voy said Pak­istan would have to go for in­dus­tri­al­iza­tion to speed up de­vel­op­ment process. MCCI se­nior vice pres­i­dent Ata Shafi Tan­weer Sheikh said bi­lat­eral trade bal­ance be­tween the two coun­tries was tilted in favour of Switzer­land and ex­port of Pak­istani prod­ucts to Switzer­land was low.

He urged the Swiss govern­ment to im­port rice, cot­ton prod­ucts, car­pet, leather and leather prod­ucts from Pak­istan. He also in­vited Swiss in­vestors to in­vest in Pak­istan, adding that se­cu­rity sit­u­a­tion had im­proved a lot, con­ducive en­vi­ron­ment and raw ma­te­rial was avail­able in the coun­try. For­mer SVP MCCI Alam­gir Jamil said there ex­isted a vast po­ten­tial of in­vest­ment in the agri­cul­ture sec­tor which the Swiss in­vestors could ben­e­fit from it.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.