Pakistan needs easier, faster trade, investment process: British Dy Head of Mission

Karachi – Deputy Head of Mission of British Deputy High Commissioner here Steve Crossman emphasized on taking more steps to increase trade between Pakistan and his country, which at present is very low against the potential.

Last year, it was dollars 2.6 billion.There is need to build our trade capacity. Pakistan government should make trade and investment process easier and faster, he said during his chat with senior journalists and in a short speech at a farewell dinner for him hosted by Mundia Group of Industries at his residence

The reception was attended by Senior Minister of Sindh Syed Nasir Hussain Shah, diplomats from Korea, Bahrain, Oman, USA, Russia, Sri Lanka, prominent business, political and social figures who were welcomed by Chairman of Mundia Group M.Illyas Mundia and his son M.Basit Mundia.

The British Deputy Head of Mission said the trade between the two countries was good but it could be much better. There were many constraints, like Pakistan 's negative image, the difficult licensing process for foreign companies and complex taxation procedures.

The law and order situation in Pakistan also needs further improvement." People like big business. They want to invest here in SMEs.

It takes months to start a business due to the slow and complex process of completing formalities. Thus their cash flow stucks up, " he mentioned adding that unnecessary delays also created space for corruption.

He said over 100 British companies were operating and doing well in Pakistan . More companies might come in if the investment and trade environment was made further attractive.

He said the United Kingdom wanted prosperous and stable Pakistan . Around 1.2 million Pakistanis were living there and contributing a lot to his country's social and economic sectors. The people of Pakistani origin had even become members of UK parliament.

" Karachi is number one in hospitality. I had a fantastic time. I have a large group of friends here. Many of them contributed a lot in strengthening the relationship of the two countries," he said.

Chairman of Mundia Group of Industries, M.Illyas and M.Junaid Mundia presented Sindhi traditional shawl " Ajarak" and Sindhi cap to the Deputy Head of Mission of Deputy British High Commissioner.

"Monitoring Desk"

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