"The Pakistan government will not allow any kind of terror activities from our soil," he said.
India and Pakistan should immediately take up the bilateral dialogue further, he said, while maintaining that Kashmir is an issue for Pakistan.
He also assured that Pakistan will bring the perpetrators of the Pathankot terror attack to book.
Basit was speaking at a function organised by 'Lokmat' media group here.
After the Pathankot incident, dialogue stopped but both countries showed restraint and did not react extremely, he said.
There should be frequent flights between India and Pakistan and as in the past, Air India or private airlines can operate flights to Pakistan, the High Commissioner said.
Basit appreciated Prime Minister Narendra Modi's gesture of inviting his Pakistani counterpart Nawaz Sharif to the swearing-in ceremony in 2014, saying it was a great "visionary step" and said to accept the invite was a difficult decision for Sharif.
Modi's subsequent visit to Pakistan enhanced the hope for dialogue, he said.
Former Indian diplomat Vivek Katju, BJP leader Sheshadri Chari, Congress spokesperson Priyanka Chaturvedi and senior journalist Jatin Desai were the other speakers at the programme.
Chari said India was in favour of dialogue between the two countries and restoration of peace, but "sometimes we are in a quandary as to whom should we talk to" -- the Pakistani politicians, the army or the non-state actors.
The generation born after 1947 was always in favour of good relations between the two counties, he said.
Katju said violence, war and hostility can not lead to peace between the two countries. The focus should be on building co-operative relations.