Federal Minister for Finance Ishaq Dar Thursday urged for early resolution of outstanding financial disputes between the Russian government and the Pakistani businessmen to help bring capital and investment into Pakistan.
“There is lot of potential in trade between the two countries but unfortunately due to this impasse we could not benefit to our true potential,” Dar said while chairing the meeting of the committee formed by the prime minister to resolve the longstanding trade issues between Pakistan and Russia.
He said the solution would be win-win situation for both the Russian government and Pakistani businessmen and emphasized that any arrangement agreed by both the parties should be implemented with full commitment to wind up of litigations and restore normal trade relations.
Earlier, Chairman Board of Investment, Mifttah Ismail, informed the committee that the Pakistani businessmen, who were party to the litigation in the courts with the Russian government, had agreed to dispute resolution and the proposals in this regard would be communicated to the Russian side for moving forward.
He informed that negotiations with the Pakistani businessmen were in a clear shape to be forwarded to the Russian side. On the occasion, Minister for Commerce Khurram Dastagir Khan said the dispute was an impediment to enhancing cooperation between the two sides in energy and infrastructure development sectors.