US President Donald Trump—with his reputation as a “dealmaker”—can help bring an end to the 70-year old animosity between Pakistan and India, Dr Ishrat Hussain, a leading economist and former governor of the State Bank, said here.
In an interview to the news agency, Dr Hussain said that Pakistanis believe that the US has not played a major role in trying to normalise relations between Pakistan and India.
“Trump is considered somebody who means business, and who is a dealmaker. We think that if he puts himself to this task and starts bringing India and Pakistan together, the 70-year-old problem which we have with India will come to a solution,” he said.
The former governor said that there was a great hope among Pakistanis that Trump will use his office in order to bring an end to the problems between Pakistan and India, he added.
Replying to a question, the former State Bank governor stated that the government was trying to boost growth and take it to the level of 6-6.5 per cent. He said given the continuity and consistency of economic policies, this was certainly doable, adding, “The direction is very clear and there are no reverse gears which create uncertainty and unpredictability for investors.”
Dr Hussain said that in middle of 2017, MSCI (Morgan Stanley Capital International) will add Pakistan to its Emerging Market Index, which will also give a great boost to foreign investments and Pakistan’s economy. In the 1990’s, Pakistan was one of the top ten performing emerging markets, ahead of India, Bangladesh and Vietnam, he added
Meanwhile, in an interview posted on the website of The Emerge85 Lab—an initiative between the John Hopkins University School of Advanced International Studies (SAIS) and Abu-Dhabi-based the Delman Institute—Dr Ishrat Hussain stated there was a huge middle class in Pakistan which has purchasing power and was contributing to pushing growth momentum.
He said that the demand coming from the middle class was adding to the productive capacity. “In cement, steel, automobiles, you name it, all these industries are in the process of expanding their production.”
To a question on Pakistan-India trade ties, Dr Hussain said that if the relations are normalised, the two nuclear-armed nations will have normal neighbourly relations, which will be good for world peace.
Responding to a question, Dr Hussain said that the existing trade volume between the two countries is between $2 to $3 billion, which has the potential to rise up to $12 billion—if all the trade barriers are removed between the two South Asian neighbours. “It is a win-win situation for both countries”.
Dr Hussain, to a question, said security situation was one of the major problems and a stumbling block as far as Pakistan’s economic growth was concerned. But, as a result of successful military operations in the tribal areas and in Karachi, the situation has now improved, he added.
He praised the China-Pakistan Economic Corridor and said that China has made billions of dollars of investment under CPEC.
“China has pledged $35bn for our electricity and energy sector. So, in three years’ time we would be adding 10,000 MW which is a 50 per cent increase in the existing capacity,” he said.
“Our exporters were unable to deliver goods to their markets because of the energy shortages. They will now be able to go back to the international markets and capture their lost share. That will boost the economy itself,” the former State Bank governor stated.
Ya.. give you Kashmir, Sir Creek, Saichen, Water but keep 200 million Muslims in India for future Kashmirs and Pakistans to be carved out of India. Trump himself is trying to get rid of Muslims, Britain is cancelling citizenship of Pakistanis muslim and sending them home. That is Brexit. Let elections come in Europe and see what happens there. CHINA YOUR BIG ALLAH NOW HAS NOT EXCEPTED EVEN A SINGLE MUSLIM REFUGEE. World is showing great understanding with Mynamar which getting rid of Muslim by thowing them into sea. Even Saudi Arabia and UAE got rid of around half million Pakistani muslims. All Muslims in india are Pakistanis after 1947 and are living in india illegally. This is where Trump can help to get them to there homes in Pakistan.
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