Businessmen during a meeting at Islamabad Chamber of Commerce & Industry welcomed the US Senate vote to triple non-military aid to Pakistan to roughly 1.5 billion dollars per year through 2014 and said that this crucial move of US would provide a much needed long-term financing to Pakistan’s economy.

They said it would also further strengthen the trust and cooperation between the two countries as well as would provide new impetus to Pakistan to fight against extremism with more commitment.

They said Pakistan’s economy suffered badly due to becoming a frontline state against war on terror and termed the passage of Kerry-Lugar bill from US Senate a positive step forward to compensate Pakistan to some extent for its economic losses.

Chairing the meeting, Mian Shaukat Masud, President, Islamabad Chamber of Commerce & Industry (ICCI) said that the passage of legislation sponsored by senators John Kerry and Richard Lugar would pave way for stimulating economy and giving boost to business activities in Pakistan. It will also restore the confidence of investors in Pakistan’s economy, he added.

He said the success of Pakistan against war on terrorism would not only be the success of a country; rather it would be the success of all nations as it would enhance their sense of security. He stressed upon the world community to further strengthen Pakistan as only a stable and prosperous Pakistan could fight effectively against terrorists and could provide greatest hope to world against the spread of extremism and terrorism.

He said that this crucial aid had come at a right time when the economy was showing positive signals and hoped that the aid will be used wisely for economic development and to mitigate the despair & deprivation that had given rise to extremism.

Mian Shaukat Masud also called upon the British Prime Minister Mr. Gordon Brown to come up with similar good gestures for Pakistan by relaxing visa restrictions to Pakistani entrepreneurs. He said due to very tough visa conditions of UK, Pakistani businessmen were facing problems in visiting United Kingdom for exploring business prospects.

He said enhancing direct interactions between the business communities was the best option to improve Pakistan’s economy and urged UK to ease its visa procedures to facilitate businessmen of both countries to explore news areas of common interest.