Home Interviews An interview of Mian Nasser Hyatt by Agha Masood

An interview of Mian Nasser Hyatt by Agha Masood

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Hailing from a Chinoti business family, Mian Nasser Hyatt Maggo was raised in Karachi. After completing his formal education, he ventured into the intricate world of business and established Al Riaz Group, an indenting company in Pakistan. The company’s phenomenal success can be attributed to Maggo’s sheer hard work, passion and commitment. Today, Al Riaz Group is recognized as one of the most reliable company in Pakistan dealing in Petrochemicals, Textiles and Steel sectors.
Mian Nasser Hyatt Maggo Possesses excellent management and leadership skills and is actively involved in business and community affairs, regularly contributing his time and effort for the benefit of business community of Pakistan. He has served as President Karachi Chamber of Commerce and Industry KCCI (2002-03). He also served as an Acting Chairman of Pakistan-China Business Council and Senior Vice Chairman of Pakistan-Turkish Business Council of FPCCI. He is a life Member of SAARC Chamber of Commerce and Industry and has also served as Executive Committee member of FPCCI for several years. His commitment to national interests, economic and trade development, profession, and humanitarian pursuits, combined with impeccable knowledge of international trade, Industry, finance and economy has resulted in numerous accolades and achievements.

Q1. Now the Gwadar port is fully functional, what impact it will have in the region?
A. Gwadar port is the third main destination for Pakistan’s trade with other countries. It will have great impact on this region not only for China but all other Central Asian States and Afghanistan. This is the shortest hot waters route for these countries. Through this port those all-land locked countries could be facilitated for trade expansion. It would also share the shipping traffic load of Karachi port and the PQA. It may be used for promotion of tourism industry through ferry services, and accelerate national social, cultural and trading activities.
Q2. Do you think export and import from Pakistan as well as from China will increase?
A. Obviously, it will enhance the volume of trade for both countries to reach Gulf States, Africa, Europe and America within short time period and less freight expenses. Pakistan would also benefit by multi-dimensional advantages by promoting its industrial base there. Our road and rail link with Gwadar would bring the Balochistan province into mainstream of trade, industry and employment opportunities. Its population will enjoy the fruits of modern era.
Q3. China has played a key role in the development of Gwadar port what benefit will accrue to her now?
A. Being a pioneer CPEC investor China’s western provinces would be connected to sea trade and their industrial growth would have opened new avenues with the outer world. Their trade expansion would generate more revenue for development by saving the time and cost of earlier transportation through distant eastern Chinese ports. The Belt and Road project would also bring prosperity for them along with our northern areas.
Q4. Do you think investment both foreign and local will come now especially in the proposed economic zones?
A. Certainly, incentives announced for the special economic zones being established alongside Belt and Road project would attract foreign and local investors. They will produce more industrial goods by offering employment opportunities for rural and urban population by training skilled and non-skilled labour. A large number of different industries and the ways of communications would be developed. SME sector would play its role and the vendor industry of nearest cities will promote itself.
Q5. Do you think connectivity with Central Asian States will enhance once the Gwadar port is fully developed?
A. With development of Gwadar port, the Central Asian States may have pinned their hopes to lay oil and gas pipelines from their huge natural reserves up to Gwadar terminals. In my opinion, we must have built large scale oil & gas reservoirs in Gwadar for storage and export of Central Asian States’ mineral wealth to facilitate their marketing to foreign countries. On the other hand, we may construct large number of warehouses for storage and delivery of imported goods from other countries for these States. If we do this, the collection of only five years’ toll tax from these imports and exports could make Pakistan the richest country in the region.
Q6. Will the people of Balochistan get immense economic benefit due to the Gwadar port?
A. When trade and industry will groom there, the people of Balochistan would ultimately earn maximum benefits. They will enter the new century of highly developed facilities and working opportunities. The wealth from all over the country would be centralized in this province. It may be assessed from the example of Karachi that has been the focal point for people from all over the country just because of being a port city. Similarly, Gwadar in the next decade would be the center of attraction for not only people from the province itself but the investors from neighboring countries and the other regions of the globe.