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RAWALPINDI: President General Pervez Musharraf in a group photo with the Indian Business delegation led by Sunil Kant Minjal, Who called on him. |
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ISLAMABAD, January 20 (Online): President General Pervez Musharraf and the Prime Minister Shaukat Aziz have reiterated that strong economic and trade ties can be forged between Pakistan and India only after the settlement of long standing Kashmir issue.
Both the leaders expressed these views while talking to 14-member delegation of Indian industrialists and investors who held separate meetings with them on Wednesday. The delegation was led by Sanil Kant Minjal, president Confederation of Indian Industry.
Talking to the delegation in army house Rawalpindi on Wednesday the President general Pervez Musharraf held that Pakistan is engaged in talks with India with good intent and sincerity because it wants enduring peace, development and prosperity in the region. We however feel sorrow over the failure of talks on Baglihar dam issue as it will not leave good impact on composite dialogue process.
He stressed that both Pakistan and India will have to restore mutual confidence. India should respect Indus waters treaty, he underscored.
President Musharraf noted that with the resolution of Kashmir issue, stronger trade bonds would be forged with India. There is need to gear up the process of composite dialogue.
He underlined that Pakistan has shown flexibility on Kashmir issue and now India will have to demonstrate flexibility. If we don't step back from our stated positions and fail to resolve Kashmir issue, the extremist forces will take advantage of any delay, he cautioned. The need is that Indian industrialist and investors should apprise their government of this situation, he remarked.
President Musharraf also expressed desire for initiation of joint ventures and strengthening economic ties between two countries.
He urged the Confederation of Indian Industry to play its positive role to reduce the confidence deficit.
The Indian delegation praised general Musharraf for his endeavors to establish peace and demanded that Pakistan should accord the status of most favored nation to India for promotion of bilateral trade.
Prime Minister Shaukat Aziz has said that the composite dialogue with India is in process and there was need to move at a faster pace to create a congenial atmosphere for resolution of bilateral issues.
He said that both the countries should manifest magnanimity, flexibility sincerity and courage to resolve issues for the sake of peace in the region and prosperity of people of both the countries. He said Pakistan initiated the process with sincere desire to resolve issues and working together to move forward, but the flexibility has to be from both sides as it was the interest of both the countries.
The Prime Minister said there was need to create the right atmosphere for expanding economic linkages between the two countries to promote durable relations. During his visit to India last year, he said, Pakistan had suggested opening of banks in each other countries; Pakistan has also offered an energy corridor for gas pipeline to meet the energy demands of India, which, he said, would be a win situation for both the countries.
Muzaffarabad to Srinagar bus service is another confidence building measure which would help in creating congenial atmosphere between the two countries. He said Pakistan wants peace and was striving for peace in the region. We want progress on all areas to move in tandem with the progress on core issue of Jammu and Kashmir which should be resolved in line with the wishes and aspirations of the people of Jammu and Kashmir.
 ISLAMABAD: PM Shaukat Aziz and Indian head of business delegation Sunil Kant Minjal pose for photographs along with Pakistan's Secretary for Foreign Affairs Riaz H. Khokhar (R), after Indian HC to Pakistan Shiveshankar Menon and Indian delegates.
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He called upon the Confederation of Indian Industry to play a positive role in reducing the trust deficit as it was in the interest of both countries. The interaction between the two private sectors can also play a positive role in making the ongoing process of dialogue a success.
The Prime Minister briefed the delegation on economic reforms and deregulation policies of the government. He said Pakistan shall be achieving close to 7% growth during the current financial year. Response to Sukook Bonds floated, last week, has been over whelming. The Bonds have been over subscribed much more than our target. Pakistan has decided to accept $600 million against a subscription of $1.2 billion which reflects our credibility in the International Capital Market.
The Prime Minister said, Pakistan was maintaining tight fiscal discipline, revenues are increasing and expenditures are well under control. Our manufacturing sector is growing rapidly and the existing units are expanding their capacity. Pakistan today is an attractive market for investment.
The delegation members while praising Pakistan's peace efforts also appreciated its economic reforms and deregulation policies. They said, both the countries should move forward with courage and flexibility to resolve issues and create congenial atmosphere. They agreed that the gas pipeline and opening of banks is a win win situation for both countries and it should be pushed forward. The delegation stressed upon the need for enhancing people to people contacts and facilitating business travels between the two countries.
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