‘Expatriate Pakistanis can help economy’

Staff Report

LAHORE: Pakistan’s exports are under tremendous pressure at the moment and it could be eased out if expatriate Pakistanis living in the United Kingdom come forward and join hands with their Pakistani counterparts to help the economy.

LCCI President Mohammad Ali Mian stated this on Tuesday while addressing a six-member delegation led by Hanzala Malik, Councilor Glasgow City Council.

Mohammad Ali Mian said Glasgow being the third largest city of the United Kingdom has huge business opportunities but the volume of two-way trade is not very encouraging. He called for well-directed, sector-specific moves to achieve the desired results.

He said that Pakistan was particularly keen in British investment that could provide transfer of technology and help it become a knowledge-based economy. He said that exchange of business delegations and holding of single country exhibitions can boost the bilateral trade. These marketing tools need to be studied by the Chambers and the diplomatic missions of the two countries.

He said that these are the areas where UK-Pakistan entrepreneurs can sit together and chalk out a comprehensive business strategy for their mutual benefits. Keeping in view the current low level of trade between UK and Pakistan there is a need for more focused efforts for expanding economic cooperation.

The trade between the two countries is steadily increasing. The total volume of trade between both countries during 2004-05 was $1379.1 million, which is on increasing trend and had reached to $1649 million in 2006-07.

Mohammad Ali Mian said that Pakistan is offering tremendous investment opportunities in the fields of information technology, telecommunication, infrastructure, education, and food preservation technologies.

Speaking on the occasion, the head of the delegation, Mr Hanzla Malik, while stressing the need for more interaction between the two sides, urged the LCCI office-bearers to arrange a delegation to Glasgow to increase the volume of two-way trade.

The LCCI Vice President, Shafqat Saeed Piracha, said that the visit would prove beneficial for the industrialists of both the sides. He said that there are a lot of opportunities waiting for the potential investors particularly in the field of Textiles and leather.

http://www.dailytimes.com.pk/default.asp?p...9-4-2008_pg5_19

Expats gotta be really patriotic to invest in Pakistan in such a situation.

Oye yaara, paise hote to pakistan na tur jaata . I am broke like anything

I wonder why the overseas should come forward. given the track record of Gunja past when he ceased every body's money and transfered his own funds to foreign banks over night. I sense another Grand scam of Gunja in making as he has his dumb ass noker as treasury minister now.

With Dar's great track record of freezing all Foreign Currency Accounts, chances are very slim.

LOL... invest in Pakistan, under the current government.... why don't i just wire my money into Ganja's account (10% to Zardari obviously). It will save a lot of paperwork.

I wonder why the overseas should come forward. given the track record of Gunja past when he ceased every body's money and transfered his own funds to foreign banks over night. I sense another Grand scam of Gunja in making as he has his dumb ass noker as treasury minister now.

The scheme was "mulk bachaoo, kurz churawoo scheme" and later people use to call it "Mulk bachaooo, bund maroo" scheme ! As our money got stuck & the money of all high ups were wired in the last night of the freeze.

You guys are looking at this too simplistically, there is good reason to invest in Pakistan currently. A cursory glance at its place economically places it next the BRICs (Brazil, Russia, India, China) according to Goldman Sachs, Its a country where prospects for growth are great, looking at KSE which is far smaller in market capitalisation than other regional countries like China or India. Therefore it has much farther to go up to catch them. It is also becoming one of the centre for the rapidly expanding Islamic finance industry currently valued at $500 billion world wide. There is also the prospect of free trade areas being set up near the FATA. (Zones where exports to the US will not be liable to US customs, which will give Pakistani exports an advantage over others). Add to this the boom from Gwadar, and its use as a goods transit for Western China and central asia. I think the opportunities are there, some people are going to win big, you just have to have the insight to do it.

I don't know about you guys but I already have plans to invest some of my money there. the prospect for rapid growth in Pakistan are probably better than almost any country on earth at the moment. All we need is the fighting on the western border to calm down.

you need electricity,transport to get soem big investment...
electricity.............12 hrs in one day !
transportation..............no one knows if some bone head came across and.........BOOM.
my advice is wait some time and see these DEMOCRAZY govt. what will they do in 6 months time span.we got last 3 days really EXCITING in Pakistan.i think i am smelling some big EVENT in ner future.kch/lhr...man i am going lhr after 5 years and....all these things just sucks.

The country was becoming a lot of (good) things under Musharraf's government. But as many people have mentioned, the prospective leaders (NS, Dar, etc) have a history of looting the country & whatever enters it. Whatever accomplishments were made in the previous 8-9 years, are feared by many to be inverted.

The country was becoming a lot of (good) things under Musharraf's government. But as many people have mentioned, the prospective leaders (NS, Dar, etc) have a history of looting the country & whatever enters it. Whatever accomplishments were made in the previous 8-9 years, are feared by many to be inverted.

One thing I will agree that having Gen. Musharaff on the head of the affair with the hawk eyes of the army on the country, if people settle down from the pre-election promises (I mean nothing is going to change, except inflation will surely go high .. it is going high every where ... even in oil producing countries), than any investment in Real estate of today will be an excellent investment.

The stock market is already so high, for me real estate market is an excellent opportunity as it has already matured and whatever the bloody media says, middle class people have money if not than how can you explain people selling their properties for 2 to 7 crores .. I mean who is buying them !

The fear is of corruption, not condition of economy.

I hope they do not loot again. Otherwise it will definitely have an effect on economy (i.e. slower growth).

Invest doesnt necessarly means take money and spend in that nation or start business there. It can also be done with effective marketing agencies where by you promote the product of pakistan small business in the country where u stay and charge certan percentage on each deal for your services. Forexample, the furniture is really good and cheap in pakistan, if some can start agencey or opens a business where they can promote and sell the furniture and effectivly help the export market of Pakistan.

There are many ways we can help Pakistan and that tooo at small scale that, rather than money going to bigshot buiness we can help small size manufactures and give them global exposure. Just like i gave furniture example, i know for a fact if furniture is imported from Pakistan and sold in Australia it still would be alot cheaper and of better quailty.

Other way we can help is Tourism, project positive image of Pakistan. We Pakistanis are tooo critical of Pakistan and we our self give pakistan a bad image. We should learn from Indians, how they make their $hit hole country look like the best place on planet earth. If we have the will there are sooooo many opportunity for us overseas Pakistan to help Pakistan.

Qarz Utaro Ganja Sanwaro & Mr. 90% on the helm You gotta be kidding me boy. Pakistan is an bottomless Pitt...............You guys have managed to escape the cruel reality of that society just lay back and enjoy the view.

No Expatriate with a bit of common sense if going to invest anything cause they know that there are 2 big thugs sitting there with their mouths open--Idiot Nawaz, and Daddy of all corrupts Mr. Zardari!!

Please people work hard to earn their cash, and they are not about to just throw it away.

the indians are more corrupt than we are (I read somewhere that 40% of indian MP's have criminal records), but their economy still grows. The same in China and all over the world. Its too simplistic to talk of "corruption" being the thing that will prevent an economic boom. You have to look at Pakistan from a regional and world perspective. Too many of us Pakistanis are pessimists, even if everything was going ok they would find something to moan about. Thats why people like that never succeed in anything, it comes from not understand what you do have.

I do think Pakistan is on the verge of an even greater economic boom. The underlying facts I mentioned earlier have not really been disputed at all. I don't think its because of Mushy or some other politcian. the reality is most economies that succeed often do so not because of their leaders, they do it inspite of their leaders.

lack of Electricity maybe a factor, but we'll have to see about that.

Why wasn't their a boom in the 90's?

Looks like Nawaz need more cash to pay for his expensive hair growth treatment again. I doubt Pakistanis are going to send money back at this moment knowing Ganja, Dar and Zardari are in command.

there was no boom as there was little investment, the ongoing tussle between the politicians and the army for power, was distracting too. but the real boom in Pakistan is due 9/11 and its subsequent events. Shaukat aziz was able to take advantage of the situation, but nevertheless, we seem to have the eye of the US at the moment, so I suspect the boom will continue, plus our economy is slowly taking on a life of its own.

my own view is Shaukat was probably the most accomplished of our leaders certainly of the last 20-30 years.