The US Ambassador to Pakistan Anne W Patterson on Tuesday said Pakistan issued hundreds of visas to the US citizens including marine personnel in recently aimed at facilitating Pakistan in its on-going rescue and relief operation in floods hit areas. She was talking to media after visiting Islamabad Chamber of Commerce and Industry (ICCI), here.
She said the US was providing $35 million initial assistance to the flood victims and additional aid would be provided as per demands by Pakistan for the reconstruction and rehabilitation in the affected areas. Moreover, she said the US also provided $1.5billion as coalition support funds to Pakistan. The ambassador said energy is an urgent need of Pakistan and its production has been tremendously decreased, adding that the US is assisting Pakistan in collaboration with World Bank and Asian Development to meet its energy needs. She observed that people are not paying taxes, due to which the tax-to-GDP ratio in Pakistan is the lowest in the world. She emphasised that people should pay taxes to contribute to the country's economic development. Patterson also dispelled the impression that Pakistan signed Afghan Pakistan Transit Trade Agreement (APTTA) due to US pressure.
Earlier, addressing the businessman of Islamabad, she said the US is committed to maintaining consistent and long term relationship with Pakistan and will try to encourage its private sector to make more investment here. She acknowledged that the US had no desire to invest in Pakistan's oil & gas sector despite the fact that the sector offers highly profitable investment opportunities.
However, she stressed that Pakistan needs to improve its investment climate to lure foreign investors. The US is also encouraging its international partners to look towards Pakistan as an ideal investment destination, she added. Patterson said the US is more interested in first investing in Pakistan's energy sector and then strengthening its economic base as without sustainable energy availability, it would not be possible for Pakistan to improve its industrial productivity and achieve better economic growth.
She said US is co-operating with Pakistan in setting up small power plants in wind, solar and other sectors. She offered condolence to the families of those who lost their lives in devastating floods. She said the US was the first country that immediately joined Pakistan in flood relief efforts, adding that US Secretary of State Hillary Clinton also spoke to Prime Minister Syed Yusuf Raza Gilani for ensuring continuous support to Pakistan in this hour of need.
The US provided helicopters and financial and material support to Pakistan as part of initial $10 million aid as the loss to Pakistan's economy is mounting due to flood damages. She said the US is also considering additional aid request from Pakistan and has provided $245 million to it for constructing dams and water storage facilities.
In his address of welcome, Zahid Maqbool, President, Islamabad Chamber of Commerce & Industry lauded the US government for providing Pakistan with helicopters, boats, temporary bridges and other supplies to cope with massive flood devastation.
However, he said as this is the worst-ever flood in the country, Pakistan needs far larger support from the US and other countries for mitigating the sufferings of flood-hit people and restoring the damaged infrastructure. He said Pakistani products should be given greater market access in the US and the EU markets, adding that the US should also encourage its power sector investors to set up hydropower projects in Pakistan and help exploit other cheap energy sources.
He said the US should motivate its private sector to make direct investment in different sectors of economy or enter joint ventures. This will be the best method of strengthening Pakistan's economy, he added. He said investment of the US private sector will also boost the confidence of international investors.
He said Pakistan's economy has suffered loss of more than Rs 2 trillion due to fighting the war against terror. Therefore, it is the responsibility of the US and other countries to fully compensate Pakistan for these huge losses. He said the business community has many reservations over new Afghan Transit Trade and the US should play its role in resolving conflicting issues by taking Pakistani businessmen on board before finalising the agreement.
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