On Friday, Pakistan had vociferously approved the decision of India to allow the Foreign Direct Investment from Pakistan claiming that this is a move towards better bilateral relations and that this would create goodwill to both the countries.

Spokesman from the Foreign Office, Moazzam Khan had welcomed the approval of GOI to allow investment from their country in all fields but defence, space and atomic energy. He also said that this move would be beneficial to the investors and industrialists. He wished that this move would prove to be a mutual benefit.

Majyd Aziz a businessman from Karachi though happy with the decision as it was a progressive step and an initiative, he said that this is not a landmark development in the relations between both the countries. He added that currently the investments in the Indian market are being channeled through the Dubai and Singapore based companies and it is now only a matter of time before we can see FDIs.

The landmark development would be if RBI allows does not restrict them with Pakistan-specific clauses and allows the businessmen from India to invest in their country too, he said. He acknowledged that steps like these would pave way to normalization of the relations between the countries.

Indian Commerce Ministry "decided to permit a citizen of Pakistan or an entity incorporated in Pakistan to make investments in India" according to a statement they made whilst prohibiting investments in defence, space and atomic energy, and that all propositions would have to be notified to Indian authorities.

(AW- Anil)