Pakistan can negotiate with Swiss banks to bring back its wealth like Tunisia

MULTAN, Feb 25th:  Swiss Ambassador Mr.Marc Peirre George has said  that Pakistan can negotiate with Swiss banks to bring back its wealth like Tunisia. They would have to prove in the court that it was a black money earned by tax-evasion, drugs,smuggling or any other unfair means.  Delivering his speech at Multan Chamber of Commerce & Industry (MCCI)  chaired by Atta Shafi Tanvir Sheikh Senior Vice President .The Embassador said that day have gone when the black money could be deposited in swiss banks.New law does not allow to keep bad moneyin our banking system.He said that Switzerland  have huge untapped potential and all resources to bring their mutual economic relations to the new height.The Ambassador said that Switzerland is one of the largest foreign investors in Pakistan and Swiss business community is willing to make further investment in this resource-rich country. He said that several Swiss Companies were already operating in Pakistan and doing a successful business, which is enough to prove that the Swiss investment has a bright future in this country.He declined to open a swiss cultural centre or consulate in Multan to facilitate the opeople of Southern Punjab and said that it would be too expensive and we should exploit the modern technology to stay in contacts.Mr.Marc  P George said that he did not agree with this conception that Pakistan was known for terrorism and said that Pakistan was not for its textile products, artisans, sports goods, surgical instruments and many other things.He expressed the hope that Swiss investment would see a boost in coming months due to liberal investment policies of the present regime. The MCCI Senior Vice President  Atta Shafi Tanvir Sheikh said that regular interaction between the Multan Chamber of Commerce and Industry and the Embassy of Switzerland would provide excellent opportunities for exploring new ways to expand trade and investment opportunities.
He said that the balance of trade has traditionally been in favour of Switzerland. Due to increase in imports from Switzerland over some years and no significant change in Pakistan’s exports to Switzerland, this gap is further widening. From 2013 to 2014, the imports from Switzerland grew from $ 259 million to $ 320 million whereas in the same period, Pakistan exports recorded a slight change from $ 12.9 million to $ 13.7 million.
Atta Shafi said that these figures are way below to the actual potential of Pakistan. We are much concerned to maintain such a low level of share in two way trade. He said that Switzerland comes at 91st place in top exporting destinations for Pakistan in international market. We need to improve this raking by leaps and bounds.
He said that it is not an easy affair to have greater share of trade in European Union but having been awarded GSP Plus status, there are bright prospects that Pakistan will be able to increase its exports to Switzerland manifold .Atta Shafi said that Pakistan exports to Switzerland consist of textiles items, leather goods, electro-medical apparatus, sports goods and carpets, etc. Pakistan’s imports from Switzerland are medicament mixtures, textiles machinery, organic chemicals, technical and medical apparatus, electronic equipment, clock and watches etc.
He said that Swiss economy is considered one of the most developed economies of the world. It has highly advanced industries such as machinery, chemicals, watches, textiles and precision instruments. We will welcome Swiss businessmen to invest in such industries in Pakistan.
He said that relations between the two countries are being strengthened with the passage of time and the Swiss investors have made investments in different projects of the country.
He however, said that industrial sector of the country is being affected due to energy crisis and without energy, the industrial production could not be possible. The agro-based industry of the country is suitable for investment, he said.He said that trade relations between the two countries are being improved at a  rapid pace and the trade quantum could be improved on a large scale .Later Khawaja Jalaluddin Roomi Ex-President of MCCI presented the symbol of Multan Chamber to the guest.