ISLAMABAD – Pakistan and America are enjoying sustained and mutuallybeneficial relations despite of temporary political recession and a visibleimprovement will be witnessed in coming days, said Ms. Ann Mason, Chief ofPolitical and Economic Section US Consulate General Lahore.
Addressing the business community of Faisalabad in Faisalabad Chamber ofCommerce and Industry (FCCI) here Wednesday, she said that America wasinvesting in many countries including Pakistan and she was happy to knowthat Pakistan cherished from trade with the USA.
She termed agriculture as an integral and major part of Pak economy andsaid that America would continue to assist Pakistan within the givencircumstances. However, some seed manufacturing companies have somereservations and business community must take measures to redress theirgenuine grievances to take benefit from latest American technology of highyielding American seeds.
She termed M-3 Industrial Estate as an opportunity for investors tocontribute their role in the overall development of Faisalabad and saidthat she would also convince Americans to invest in it.She also assured to provide cooperation in human resource development inPakistan.
Earlier, in his address of welcome President FCCI Syed Zia Alumdar Hussainsaid that FCCI has 7,000 members within its folds and it trying to raisetheir 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 ofmany new sectors.
Regarding textile, he said that Faisalabad has Asia’s biggest socksmanufacturing unit by the name of Interlard. Crescent and Nishat groups aremanufacturing yarn while it has state-of-the-art edible oil unit Rafhan.
Similarly, Iqbal Rice is also a member of FCCI which is continuouslywinning president’s trophy of best exporter.
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He further said that the colonization of M-3 Industrial Estate had beenkicked off vigorously and we are also acquiring additional 3300 acres ofland on the other side of motorway for its expansion.
He said that a Hyundai Car Assembling Plant is also under completion whileother industries are also passing through different stages of completion.
Regarding American investment in oil and gas fields, he stressed thatAmerica should also invest in Pakistan. He particularly mentioned an oilrefinery at Gwardar or Karachi which will not only trim the import bill ofPakistan but also encourage ancillary industry on permanent basis.
He was appreciative of latest American technology and said that Pakistanwas still using reliable American and European machinery.However, America should manufacture textile machinery in Pakistan tofurther cut down the cost of American machinery.
He also indicated other sectors in which American investment was requiredand these include manufacturing of solar panels, etc.
Later, FCCI shield was presented to Ms. Ann Mason, Chief of Political andEconomic Section US Consulate General Lahore while Mr. Christopher Elms,Economic Officer, Mr. Nasir Rao, Economic Specialist, US Embassy, Mr.Hassan Raza, Commercial Specialist, Ms. Amna Anis, Economic Assistant, UsConsulate General Lahore, Kashif Zia, Sarjat Siddique, Hajji Muhammad Rafi,Hajji Saleem and Engineer Asim Muneer were also present during the meeting.
