KARACHI: Former governor of State Bank of Pakistan and incumbent IBA Director, Dr Ishrat Husain, has urged the business community to help defuse tension between Pakistan and India by spreading message of peace.
He said this while addressing on the topic of “Business for Peace” at the Annual General Meeting of the Global Compact Network Pakistan at IBA. Giving the example of France and Germany, he said that were at crossroads since World War I, the two countries established better relations, eventually bringing prosperity through economic union.
He said economic cooperation could be raised without compromising on border disputes. “Go for economic cooperation and create constituencies where business can defend peace on both sides of the border,” said Husain.
He said studies of bilateral trade between conflict-ridden countries such as China and Taiwan, China and India indicate that India and Pakistan can benefit in trade.
Trade volume could multiply five to ten times, creating new opportunities of employment and services.
“Afghanistan’s economy can also benefit, while economic activity could be increased on borders between Balochistan and Iran,” said Husain.
“By creating mutually beneficial interests, conditions can be created for sustainable peace.” Husain also presented “Living the Global Compact Business Excellence Awards 2013-14” to winning companies declared UNGC champions through an evaluation by international and national juries.
The winners included Tameer Bank, Attock Refinery, PARCO, Engro, Indus Motors, Fauji Fertilizer, Hinopak Motors, PPL, Thal Engineering and Hi-tech lubricants.
