Pakistan needs to take painful decision for economic reforms

April 04, 2013

US Ambassador to Pakistan
US Ambassador to Pakistan

LAHORE: US Ambassador to Pakistan Richard Olson has said that economic reforms require painful decision, but it would help Pakistan overcome fiscal, energy and agriculture challenges. He said trade also has the potential to create jobs for the estimated 20 million Pakistanis entering the labour force in the nest 10 years.

The American ambassador was addressing at the 3rd Annual Dinner of the American Business Forum (ABF) at PC hotel here on Wednesday. ABF President Salim Ghauri, founder Ibrahim Qureshi, US agriculture counselor Todd Drennan, US Embassy Economic Counselor Robert Ewing and Lahore Conul General Nina Fite and all members of ABF were present on this annual occasion.

The Ambassador said that Pakistanis could reach their full potential when they have economic opportunities such as opportunities to make soccer balls in Punjab and then sell them across the worlds. He said according to media reports last year Pakistan’s stock was up 256 percent. he said American companies were productive and progressive members of Pakistan’s society and economy. “US companies employ an almost entirely Pakistani workforce including almost all senior managers. These companies pay taxes to Pakistan and they have wide ranging social responsibility programs that benefit communities across the country.”

He announced that US Mission in Pakistan, the US-Pakistan Women’s Council and the ABF are working on plans to place at least 20 Pakistani women in internship opportunities at ABF members companies. These women will be trained through Internet based seminars to develop their skills, he said. He also vaguely mentioned a tax evader local competitor company of an Amercian company in Paksitan and suggest united stand against such evil practices.

He said paksitan has shines overseas with success stories like the AllWOrld Network’s “Pakistan 100 Group” of company’s fastest growing companies. But, he stressed on, the meaningful cooperation between public and private sectors fro true progress.

Those present their also included representatives of the 44 MNCs, comprising ABF, along with budding entrepreneurs, members of the civil society and media. The event was moderated by Honorary Secretary General of ABF Ayesha M. Hamid.

Ambassador Olson hailed the ABF’s efforts for the promotion of good business relations between US companies and Pakistani business concerns. He congratulated the ABF members for being example-setting corporate citizens.

President of the American Business Forum, Salim Ghauri thanked the Ambassador and reaffirmed American Business Forum’s commitment to establishing an effective bridge between the US and Pakistani economies for the benefit of all. He said, “looking back at ABF’s journey it warms the heart to see how much ABF has achieved in such a short span”.

The American Business Forum (ABF) is a non-profit body formed by Pakistani businesses in USA. Formed in 2009, its purpose is to provide a platform to American companies for business expansion, resolution of issues and attracting FDI in Pakistan.

In this regard, interaction with Provincial as well as Federal Governments is one of its key objectives. ABF endeavors to play a key role in promoting trade and investment which are vital for the economic revival of Pakistan. This member-focused association aims to help the general public by development of Human Resource in Pakistan and convincing people in fulfilling their social responsibilities and also encourage a good tax culture in the country. Source Daily Times

 

Published: Zarai Media Team

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