Islamabad, October 17, 2022 (PPI-OT):Former Vice President of FPCCI Atif Ikram Sheikh during the Cold War, trade between Russia and Western countries was not stopped. Russia and western block continue to trade despite the Ukraine war and some sanctions, he said. Atif Ikram Sheikh said that relief should be given to people reeling under runaway inflation by allowing trade between Pakistan and India.
In a statement issued here today, Atif Ikram Shaikh, who is also the former chairman of the PVMA, said Pakistan should also reduce the growing poverty without compromising on the principled stand by allowing trade with India. Trade is the best way to reduce tensions and resolve conflicts and the economy needs to be strengthened as no country will pay attention to countries with weak economies.
The business leader said that the development of the SAARC region has been stalled due to political tensions, with the main role being the tension between Pakistan and India, due to which the standard of living of the people is on the decline. Pakistan cannot develop in isolation from its neighbouring countries, so the relevant policies should be re-evaluated, he said, adding that peace can help both countries to improve almost every aspect of the economy and society.
He said that over a third of the world’s 60 most polluted cities were reported to be in India and Pakistan. The Indus and Ganges basins are under strain, and the glaciers are melting. The climate crisis does not recognize borders, race, religion, caste, or sect. It does not separate common people from the elites. Now it is time for both governments to work together for a prosperous future.
He said that it took Europe centuries of horrific battles and the World Wars to conclude working together is better than being in a conflict that Pakistan and Indians should realize. Pakistan’s economy was weak before COVID-19, surviving on an IMF loan and being burdened by external debt. Today it is facing the additional challenge of feeding millions of families that have lost their incomes because of floods.
Both countries could cooperate on food security in the region, otherwise, food shortages will make the conflict between India and Pakistan even worse. Working together on soil erosion, agriculture, trade routes, and food security would have huge dividends for both countries.
The potential pay-off for India and Pakistan if they normalized relations is mind-boggling. According to a 2018 World Bank report, India-Pakistan trade could increase from $2bn to $37bn if both countries took steps towards removing tariff barriers, strict visa policies, complex procedures, and waiting periods at the border, the business leader said.
That would bring so many other trade benefits, lift communities out of poverty, and boost investment in education, health, development, and green technologies. In Pakistan, 17.7 million people don’t have access to clean water. People are moving to towns faster and straining services. Meanwhile, in India, the number of people who do not have access to clean water is even higher, 98 million, he informed.
Atif Ikram said that too many children are out of school in both countries due to a lack of investment, poverty, and inequality. This is a catastrophe for Pakistan and India and the world. Education investment needs to increase massively in both countries. Pakistan has an estimated 22.8 million school-age children not attending school. In India, meanwhile, an estimated six million children are out of school.
For more information, contact:
Atif Ikram Sheikh
Ex. Chairman PVMA, Former VP, FPCCI,
Former President ICCI, Former President HCCI,
Tel: +92-51-4437597, 4440772
Fax: +92-51-4440773