Wednesday June 24, 2009
KARACHI: US Ambassador to Pakistan, Anne Patterson informed that an additional $200 million aid assistance for Pakistan, was approved on Tuesday, while at the same time, the US is also working on the $1.5 billion annual financial assistance promised to the country for the next five years.
She further said $30 million had already been provided for the Internally Displaced Persons (IDPs) earlier. Patterson added that the US was also ready to provide assistance to deal with the energy crisis of Pakistan.
She also stated that the Obama administration is working hard towards implementing the bill on the Reconstruction Opportunity Zones (ROZ) of Pakistan and she was optimistic that work would soon begin on it.
Addressing the media at the inauguration ceremony of the new American Business Council of Pakistan (ABC) office premises on Tuesday, she admitted that while the House of Bills had approved of it, there were some differences in the Senate which the Obama administration was working to resolve.
Patterson said that it was a challenge for the US to expand their trade to developing countries when they themselves were facing critical times due to recession as the western country was also facing losses and increasing unemployment threats.
However, she added that the Obama administration was working on increasing investments in the country and she too personally encouraged American businessmen to visit Pakistan and invest here.
Speaking about Pakistan and US trade relations, Patterson said that US was Pakistan’s largest trading partner and had made investments worth billions of rupees. She further said that Pakistan should increase trade within the region and also with neighbouring countries which would help it to experience a much needed boost in trade relations.
To a question by the media, the ambassador also said that while the US wasn’t working particularly to increase trade between India and Pakistan, they would encourage the two countries to do so as it would be advantageous for all three nations in terms of trade and economic benefits.
Patterson said that Pakistan has a highly productive youth based population which has a “good appetite for consumer goods” and therefore, opportunities are abundant in the country for development and progress.
To another question regarding the gems and jewelry sector of Pakistan of which the US is the largest importer, Patterson said that American businessmen are driven by price and quality which in turn determines the trade potential and level with other countries.
“I would be very surprised if Americans pull out of any deal in Pakistan where they are benefitting in terms of price and quality,” she expressed.
Referring to the IDP camps, Patterson said that USA had been the largest donor to this country and would continue to be generous even in the future. She continued to say that millions had also been donated by the American companies based in Pakistan and the employees working for them.
She further stated that the US was not involving UN agencies in their aid work for the IDPs. Nevertheless, they had involved the local NGOs for the cause of which the Human Development Fund was playing a pivotal role in working with the US to provide financial aid here.
For latest financial news please visit: Finance.kalpoint.com
KARACHI: US Ambassador to Pakistan, Anne Patterson informed that an additional $200 million aid assistance for Pakistan, was approved on Tuesday, while at the same time, the US is also working on the $1.5 billion annual financial assistance promised to the country for the next five years.
She further said $30 million had already been provided for the Internally Displaced Persons (IDPs) earlier. Patterson added that the US was also ready to provide assistance to deal with the energy crisis of Pakistan.
She also stated that the Obama administration is working hard towards implementing the bill on the Reconstruction Opportunity Zones (ROZ) of Pakistan and she was optimistic that work would soon begin on it.
Addressing the media at the inauguration ceremony of the new American Business Council of Pakistan (ABC) office premises on Tuesday, she admitted that while the House of Bills had approved of it, there were some differences in the Senate which the Obama administration was working to resolve.
Patterson said that it was a challenge for the US to expand their trade to developing countries when they themselves were facing critical times due to recession as the western country was also facing losses and increasing unemployment threats.
However, she added that the Obama administration was working on increasing investments in the country and she too personally encouraged American businessmen to visit Pakistan and invest here.
Speaking about Pakistan and US trade relations, Patterson said that US was Pakistan’s largest trading partner and had made investments worth billions of rupees. She further said that Pakistan should increase trade within the region and also with neighbouring countries which would help it to experience a much needed boost in trade relations.
To a question by the media, the ambassador also said that while the US wasn’t working particularly to increase trade between India and Pakistan, they would encourage the two countries to do so as it would be advantageous for all three nations in terms of trade and economic benefits.
Patterson said that Pakistan has a highly productive youth based population which has a “good appetite for consumer goods” and therefore, opportunities are abundant in the country for development and progress.
To another question regarding the gems and jewelry sector of Pakistan of which the US is the largest importer, Patterson said that American businessmen are driven by price and quality which in turn determines the trade potential and level with other countries.
“I would be very surprised if Americans pull out of any deal in Pakistan where they are benefitting in terms of price and quality,” she expressed.
Referring to the IDP camps, Patterson said that USA had been the largest donor to this country and would continue to be generous even in the future. She continued to say that millions had also been donated by the American companies based in Pakistan and the employees working for them.
She further stated that the US was not involving UN agencies in their aid work for the IDPs. Nevertheless, they had involved the local NGOs for the cause of which the Human Development Fund was playing a pivotal role in working with the US to provide financial aid here.
For latest financial news please visit: Finance.kalpoint.com
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