MULTAN City News

Talk to Swiss banks to bring back wealth: envoy

Says he does not agree with conception that Pakistan known for terrorism,

but is known for its products

From Our Correspondent

MULTAN: Swiss Ambassador Marc Pierre George has said that Pakistan can negotiate with Swiss banks to bring back its wealth like Tunisia by proving in a court that it is a black money earned by tax-evasion, smuggling or any other unfair means.

Addressing the Multan Chamber of Commerce and Industry here on Thursday, he said that Switzerland had huge untapped potential. He said that his country was one of the largest foreign investors in Pakistan and Swiss business community was willing to make further investment in the resource-rich country.

The envoy said that several Swiss companies were already operating in Pakistan and doing a successful business, which was enough to prove that Swiss investment had a bright future there. He refused to open a Swiss cultural centre or consulate in Multan, saying that it would be too expensive. He said that he did not agree with a conception that Pakistan was known for terrorism but it was known by its textile products, artisans, sports goods, surgical instruments and many other things. He expressed hope that Swiss investment would see a boost in the coming months due to liberal investment policies of the present government.

Speaking on the occasion, MCCI senior vice-president Atta Shafi Tanvir Sheikh said that regular interaction between the MCCI 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 had 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, the gap was further widening, he added. He said that Pakistan exports to Switzerland consisted of textiles items, leather goods, electro-medical apparatus, sports goods, carpets, etc. He said that the Swiss economy was considered as one of the most developed economies of the world. He said that relations between the two countries were being strengthened with the passage of time and the Swiss investors had made investments in different projects of the country. He, however, said that the industrial sector of the country was being affected due to energy crisis. He said that the trade quantum between the two countries could be improved on a large scale.