Energy Sector - 2

[Naresh]

<b>India cannot rely on IPI gas pipeline</b>

<i>Seeks alternate energy sources</i>

KARACHI: India is seeking alternate sources of energy in the wake of petroleum and natural gas shortage as it has enough capital and resources to buy energy supplies.

This was stated by M N Chinai, Member Reliance Group of India and President Maharaj Economic Council, an apex think-thank of India, in an interview to The News.

“After failure of efforts and series of talks with Pakistan and Iran, India has decided to produce thermal, coal and bio-energy in order to meet domestic demand,” he said, adding “India cannot rely further on the Iran-Pakistan-India gas pipeline project.”

He said India was interested in cooperating with Pakistani industrialists and businessmen, but it would not focus on one specific sector. “We (Indian businessmen) come to Pakistan and do business but we cannot disclose our deals to Pakistani government.”

India eyed Pakistani textile sector and would soon send a delegation in order to study the industry, he said. “Indian textile sector is also very strong and has the capability to compete with Pakistan.”

Regarding investment opportunities in Pakistan, Chinai said it would take a long time to build trust, but joint ventures could be possible.

He was of the view the World Trade Organisation’s rules did not provide a boost to the trade of developing countries, instead it bolstered the trade of big powers and developed countries of the world.

“WTO has discriminatory policies for the Third World countries, which create more problems instead of helping them.”

President Maharaj Economic Council said India lacked skilled professionals in industries. “It is generating graduates and qualified people with zero professional skills and lack of confidence.”

He expressed dissatisfaction over efforts to reopen Indian and Pakistani consulates in Karachi and Mumbai, saying though measures were being taken, these would be difficult to bear fruits soon.

“We (businessmen)Ö can only make demands to the government and state departments but do nothing else and the absence of consulates is the major hurdle in the way of improving trade ties between Pakistan and India.”

The representative of Reliance Group highlighted the importance of Pakistan as a corridor for trade with Middle Eastern countries, saying India could use Pakistan as a bridge for trade with landlocked countries. However, “it is too difficult to materialise.”

About small-scale industries of India, he said China gave a tough time to India after the implementation of WTO regime as many small-scale industries went bankrupt due to cheap Chinese products, adding “now India is competing with its neighbour but it needs a lot of progress in this regard.”

Likewise many Asian countries, Indian investors shifted their industries to China, but Chinai disagreed the move would affect local industries, saying other investors appeared in local markets if some investors went to foreign countries.

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