The new American Business Council of Pakistan's secretariat was recently inaugurated by JoAnne Wagner, the US Consul General of Karachi. The ABC was represented by Jamal Mir, President ABC and Executive Committee Members.
In his opening remarks Mir reiterated the critical role American companies play in promoting business, creation of job opportunities and contribution of taxes to the government.
This was followed by brief remarks of the US CG. In her address to the ABC members she said, "Over the years the business to business ties between the United States and Pakistan the people to people ties have helped reconfirm, renew and resurrect the US Pakistan relationship". She added that she was very grateful to everyone for being a leader in those efforts. She stressed that together with concrete steps could help make the US Pakistan relationship even more positive.
The ABC has been serving the nation since 1984 and is recognized as the single largest chamber in Pakistan.
The American Business Council of Pakistan functions as the Chamber of Commerce of American businesses in the country. The ABC is one of the largest investors group in Pakistan - currently consisting of 64 members, most of them listed as Fortune 500 companies. ABC members have cumulative revenues of over US$ 4.0 billion. ABC members contribute a sizable amount to the national exchequer every year as direct and indirect taxes - last year they contributed Rs 135 billion.
Another survey highlighted that American Companies reinvested approximately US$2.00 billion from the profits earned in Pakistan in the last 5 years, directly employ over 58,000 people and indirectly employ nearly one million people with agents, distributors, contractors, etc.
ABC is affiliated with the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and is a member of the US Chamber of Commerce (USCC), Washington DC, and Asia-Pacific Council of American Chambers of Commerce (APCAC). ABC also has a close working relationship with the US-Pakistan Business Council, Washington which is a component of the USCC.-PR