Friday, May 22, 2009
LAHORE: The United States wants to make investment of billions of dollars in Pakistan and will continue to provide relief for the displaced people of Swat.
Speaking at the launch of American Business Forum (ABF) here on Thursday, the US Ambassador to Pakistan, Anne W Patterson, said that the US has already announced $110 million relief funds for the Internally Displaced Persons (IDPs) and would continue its assistance in future as well.
Terming the launch of ABF a positive signal for Pakistan and its economy, the ambassador said American business community is willing to invest in Pakistan. She pointed out that US companies had already invested $750 million in Pakistan during this year and paid some Rs40 billion in the shape of different taxes.
Regarding trade relations between US and Pakistan, Patterson said Pakistan imported $3.6 billion worth of products and exported items worth $2 billion.
She hoped that ABF would be helpful in strengthening the relationship between US companies and Pakistan. She further said that ABF would also work for US foreign direct investment in Pakistan and hoped that it would bring $1.3 billion FDI from the US to Pakistan.
US wants closer ties with Pakistan and would construct Reconstruction Opportunity Zones (ROZ) soon, the ambassador said, adding US companies are interested in making investment in energy projects.
Speaking on the occasion, State Minster for Investment, Senator Waqar Ali Khan, said Pakistan is passing through a new era and facing new challenges. To handle the situation bold steps are needed, he said, adding that the most important thing was the implementation on bold steps.
He urged the nation to unite. He said that foreigners were interested in five sectors of Pakistan including energy, oil & gas, food, corporate farming and Information Technology (IT).
Founding President of ABF, Country Manger Pakistan-Afghanistan of Coca-Cola, Rizwan U Khan, in his welcome address, said that the forum was constituted with 35 member US companies operating in Pakistan. He said US bought 25 per cent of the total exports of Pakistan.
