Indians can invest $20-50b in Pakistan: PIBC

Lahore—Indian investors have shown willingness to invest $ 20 to 50 billion in Pakistan in mining, petroleum, energy, power and infrastructure projects.

Talking to media here Tuesday, the Chairman Pak-India Business Council (PIBC) Noor Muhammad Kasuri said that upon his arrival from India after a fortnight visit and having meetings with members of Indian business community.

Kasuri said that there are several big investors groups in India and they were interested to explore opportunities in Pakistan which is in their neighbourhood instead of other parts of the world.

He said that India private sector has also shown willingness to export 500 mega watts of power to Pakistan through Wagha-Attari border. They can lay electricity lines for this purpose in few months, he said.

Kasuri said that PIBC has been working for better trade relations between the two neighbouring states since 90s.

After improvement in trade ties in India and Pakistan, he added, opportunities for success of big projects like gas pipeline project for Turkemanistan, Afghanistan, Pakistan and India have further increased.

He said that access and acceptability for Pakistani products in Indian markets has been improved after the recent initiatives to improve relations between both the governments. Credit of this goes to President Asif Ali Zardari, Indian ruling party leader Sonia Gandhi, Senior Federal Minister Makhdoom Amin Fahim and Indian Trade minister Annand Sharma, he added.

PIBC Chairman said that India has developed infrastructure in tourism, information technology, agriculture, business and industrial fields and Pakistan can take advantage from Indian experiences.