KARACHI, Nov 29: There seems to be no love lost between businessmen of Pakistan and India after almost 70 hours terrible ordeal for many people in the Indian financial capital Mumbai, where two luxury hotels and religious- cum-social centre and other places came under attack by a group of terrorists whom the Indian government leaders alleged have some Pakistan connection.

“It is bound to be business as usual after a short pause,’’ an importer of Indian consumer items in Jodia Bazaar remarked, who maintains that business emerges from market demand for an uninterrupted supply of quality goods at minimum cost. Businessmen of Pakistan and India are simply catering to the demand of their respective customers within the framework of business rules.

“The business between Pakistan and India is a necessity in which politics and diplomacy has a very small room,’’ he asserted.

“During the Kargil episode in April-May 1999, Indian businessmen had asked us to get our letters of credit reconfirmed from some international bank,’’ Amjad Rafi, a senior business leader of Karachi Chamber of Commerce and Industry recalled.

He revealed that his Indian partners also made same demand after a near-state-of-war situation developed between the two countries, following a terrorist attack on Indian parliament in New Delhi. A re-confirmation of LCs from international bank enhances cost of Pakistani traders by one per cent of the invoice value.

“Thanks God, no such demand was made this time,’’ Amjad told Dawn on telephone on Saturday.

But top business leadership of Pakistan is not at all comfortable on the “wild and baseless” allegations of the Indian political leadership and a section of Indian media on linking Mumbai carnage with Pakistan.

President of Federation of Pakistan Chambers of Commerce and Industry Tanveer Sheikh fears some upset in business relationship after the Indian allegations. Leader of All Pakistan Textile Mills Association (Aptma) Iqbal Ibrahim is of the view that a transparent, independent and professional probe into this sordid incident will restore confidence of businessmen of the two countries.

“They are matured persons,’’ the Aptma chief replied when asked if his friends in India were influenced in any way by the baseless allegations of the Indian leaders. Iqbal Ibrahim did talk to his partners in India and found them calm and composed.

Anjum Nisar, the president of Karachi Chamber of Commerce and Industry is confident of Pakistan and India business relationship getting stronger and better with every passing day even if there are some problems. “Business is bringing people of the two countries together,’’ he said. Only a handful of persons want to derail the peace and progress journey of the people of the two countries.

He talked to a senior executive of an alternate energy company in Bangalore in India, who is keen to come to Pakistan to work on an alternate energy project, Anjum Nisar quoted his Indian friend.

An overwhelming majority of big businessmen and traders in Pakistan are convinced that their Indian partners understand the limitations of their politicians and military leadership, who after failing to maintain security, opted for a blame game to escape responsibility. “Politicians and bureaucrats share common traits in all countries of the world,’’ a Jodia Bazaar trader remarked.

The Mumbai terrorist attack has come at a time when volume of formal and informal trade between two countries has exceeded $5 billion a year as was reported by business leaders only this week. Another major development in bilateral business relationship is the exhibition of the latest Indian films in cinema halls of Karachi, Lahore and other cities, which attracts good crowd and is contributing to revival of cinema business in Pakistan.

President of Indo-Pakistan Chamber of Commerce and Industry S.M. Muneer is confident that in the long run the business relations between two countries will remain unaffected and the business is bound to grow further. Muneer talked to his few friends in Delhi after the Mumbai incident and found them enthusiastic to move ahead on their business growth plans.

Amjad said the only effect he felt of Mumbai incident was slight delay in delivery of his telegraphic transfer from India because the Reserve Bank of India was closed down for a day after attack. “I talked to my friends in Amritsar and Delhi and found them unmoved by the allegations of their leadership,’’ he said.

Businessmen say that the political leadership of both countries should realise that their region was home to largest number of poor in the world and poverty breed violence. Business brings prosperity and that is the only way to curb violence and terrorism of which both the countries are victims.