Infrastructure and energy sectors: consensus reached with US Chamber over boosting investment

US Chamber of Commerce and the Ministry of Finance have developed consensus on increased Pak-US commercial interaction for public and private sector development to progressively increase investment in infrastructure and energy sectors in Pakistan.
US Chamber of Commerce delegation led by Lieutenant General Daniel W Christman (Retd), Senior Vice President for International Affairs accompanied by Jay Collins, Chairman, US-Pakistan Business Council met Finance Minister Syed Naveed Qamar, here on Thursday.
The US delegation is in Pakistan to explore avenues for closer co-operation in commercial and trade sectors between the two countries. The US Chamber of Commerce represents US foreign business leaders whose efforts focus on development of leadership-to-leadership relationship on international issues affecting the business community.
The Finance Minister briefed the US delegation about latest economic and business development initiatives of government of Pakistan that not only focus strengthening of internal economy but also take stock of GoP's business and commercial relationship with regional states and the developed world.
US delegates discussed the possibility of adding to the frequency of business-commercial partnership between the two countries in the context of financial investors' perspective that would take the two allies further on way to expanded relationship.
The Finance Minister reciprocated the US delegation's viewpoint, adding that political scenario following post-September 2008 presidential elections in Pakistan would complete the democratic process and the country would attain substantial political stability that forms essential part of economic stability and progress. The GoP currently is geared to come out with a multi-pronged positive economic trends and policy framework - notwithstanding the ongoing global energy crisis - that would place the country at par with other stable developing countries' economies. Macroeconomic stability is primary agenda of the present government, the Finance Minister added.
The Finance Minister further informed the US delegates that during recent months GoP has taken certain hard fiscal decisions that potentially would impact attaining stable economic indicators down the road. Pakistan looks forward to working with the US in all economical fields in times to come, he stressed.
The delegation presented their country's financial community perspective on market economy, individual investors initiative for across the country investment which certainly take into account GoP's privatisation programme and other external investment portfolios being opened to the world.
The Finance Minister explained to the delegation Pakistan's financial instruments being put in place in all fiscal and economic sectors that take stock of all micro and macro issues prioritised on GoP agenda, which contains all market-based monetary incentives. He added that agriculture in Pakistan is an engine of economic growth and the government is fully committed to boosting it for achieving better crop yield, and Pakistan welcomes foreign investment in portfolio-based projects in all sectors of economy focusing energy, agriculture and infrastructural development.