Pakistani businesses opt for Dubai amid uncertainty
During the past 20 months, Pakistani businessmen and rich individuals have not only been investing heavily in Dubai’s real estate but also establishing export-import trading houses there, said market sources. “This is not a surprise that the Pakistanis have been investing in the real estate of Dubai but important is the establishment of trade and business houses by Pakistanis,” said Anwar Khawaja, a Karachi-based investor having businesses in Dubai also. “Many big business tycoons in Pakistan have partially or fully shifted their business to Dubai depriving the country of income and jobs,” he said. However, he said many have justification. The political and economic uncertainties along with the deteriorating law and order situation frightened the business community who regularly pay ‘extortion money’ to one or another group in Karachi.