Pakistan, US enjoying sustained relations

FAISALABAD: Pakistan and America are enjoying sustained and mutually beneficial relations despite of temporary political recession and a visible improvement will be witnessed in coming days, said Ann Mason, Chief of Political and Economic Section US Consulate General Lahore.

Addressing the business community of Faisalabad in Faisalabad Chamber of Commerce and Industry (FCCI) here Wednesday, she said that America was investing in many countries including Pakistan and she was happy to know that Pakistan cherished from trade with the USA.

She termed agriculture as an integral and major part of Pak economy and said that America would continue to assist Pakistan within the given circumstances.

However, some seed manufacturing companies have some reservations and business community must take measures to redress their genuine grievances to take benefit from latest American technology of high yielding American seeds.

She termed M-3 Industrial Estate as an opportunity for investors to contribute their role in the overall development of Faisalabad and said that she would also convince Americans to invest in it.

She also assured to provide cooperation in human resource development in Pakistan.

Earlier, in his address of welcome President FCCI Syed Zia Alumdar Hussain said that FCCI has 7,000 members within its folds and it trying to raise their issues with a clear objective to resolve the same at federal, provincial and local levels for the last 44 year.

He said that textile was the real economic strength of this metropolis, however, it has witnessed a phenomenal diversification with the addition of many new sectors.

Regarding textile, he said that Faisalabad has Asia's biggest socks manufacturing unit by the name of Interlard.

Crescent and Nishat groups are manufacturing yarn while it has state-of-the-art edible oil unit Rafhan.

Similarly, Iqbal Rice is also a member of FCCI which is continuously winning president's trophy of best exporter.

He further said that the colonization of M-3 Industrial Estate had been kicked off vigorously and we are also acquiring additional 3300 acres of land on the other side of motorway for its expansion.

He said that a Hyundai Car Assembling Plant is also under completion while other industries are also passing through different stages of completion.

Regarding American investment in oil and gas fields, he stressed that America should also invest in Pakistan.

He particularly mentioned an oil refinery at Gwardar or Karachi which will not only trim the import bill of Pakistan but also encourage ancillary industry on permanent basis.

He was appreciative of latest American technology and said that Pakistan was still using reliable American and European machinery.

However, America should manufacture textile machinery in Pakistan to further cut down the cost of American machinery.

He also indicated other sectors in which American investment was required and these include manufacturing of solar panels, etc.

Later, FCCI shield was presented to Ann Mason, Chief of Political and Economic Section US Consulate General Lahore while Christopher Elms, Economic Officer, Nasir Rao, Economic Specialist, US Embassy, Hassan Raza, Commercial Specialist, Amna Anis, Economic Assistant, Us Consulate General Lahore, Kashif Zia, Sarjat Siddique, Hajji Muhammad Rafi, Hajji Saleem and Engineer Asim Muneer were also present during the meeting.