New Delhi: Seeking more steps by India to rejuvenate trade ties with Pakistan, the neighbouring nation's industry captains today (Dec 7, 2004) said that India should be treated at par with other trading nations and there was no reason to grant MFN (Most Favoured Nation) status to it.

"To begin with, you need to realise that Indian industry needs to do more to bolster trade ties between the two nations as India definitely has more economic prowess. The scenario of bilateral business is looking up in view of increased interaction between the business community of both the countries," Sohail Wajahat H Siddiqui, Secretary General of Overseas Investment Chamber of Commerce and Industry of Pakistan and CEO Siemens Pakistan said.

Arguing that Pakistan is now a liberalised economy, he sought to allay the fears of the Indian industry saying Musharraf regime has thrown open all economic sectors to foreign investors, meted equal treatment to the local as well as foreign investors and has allowed 100 per cent foreign equity besides dishing out attractive tax and tariff incentives.

"The mindset has to undergo a sea change. Nurturing pre-conceived notions would certainly do no good to enhancing bilateral ties. We in Pakistan are as much concerned about our economy as much as you are here about yours. Yes, there are irritants but they could be ironed out through increased visits of trade delegations," Siddiqui said.

On granting of Most Favoured Nation (MFN) status to India, the CEO of Siemens Pakistan said India could be treated at par with other trading nations and granting of MFN status should not be any obstacle in enhancing bilateral trade ties.