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US keen to invest in agriculture sector

KARACHI (November 14 2009): The United States of America has started preparing an initial report on possible investment opportunities in Pakistan in different areas to help boost economic activities and generate more employment opportunities. The initial report is likely to be finalised by the end of December this year or in January 2010 and the same will be presented to the government of USA for its consideration.

This was stated by Matthew Johnson, Assistant to Deputy Under Secretary of Defence for Business Transformation USA, during a meeting at Karachi Chamber of Commerce and Industry on Friday. Paul A Brinkely, Deputy Under Secretary of Defence for Business Transformation and Director, Taskforce to improve business and stability operations in Iraq was scheduled to lead the delegation but due to his sudden illness he could not attend the meeting.

Press was not allowed to attend the meeting on the request of visiting delegation. According to those present in the meeting, Matthew Johnson said that US wants to have long term relations with Pakistan and wants to bring reform in the agriculture sector, which has huge potential to grow in future. He advised the members of the chamber to prepare comprehensive specific plan for investment in different sector where American companies can invest. Replying to a question, he said that Pakistan business community should not have big expectation from us.

Regarding suggestion to utilise Thar coal for power generation, Matthew Johnson advised to prepare specific plan for the investment in power sector. Chairman, Killowen Group USA, Harlan K Ullman said that Pakistan is not enjoying better perception in the minds of business community in USA.

He said that Pakistan media should start projecting better picture of Pakistan to improve its image abroad. Pakistani media, he added is playing a very negative role in projecting Pakistan image abroad. Adviser to Chief Minister Sindh for provincial investment, Zubair Motiwala suggested that USA could establish power generation units based on Thar coal. He said that Pakistan has huge coal reserves in Thar, which can be utilised for generation of around 33000 mw power.

President KCCI Abdul Majid Haji Mohammad suggested that the USA should establish Pak-USA economic zone in the vicinity of Karachi on the same lines, as Pak-Japan economic zone is in the process of establishment near the city. He also emphasised the need of investment in the education sector.

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