Businessmen in a meeting at Islamabad Chamber of Commerce & Industry (ICCI) lauded US commitments for assisting Pakistan specifically in energy, trade and agriculture sectors and hoped that US cooperation in these fields will provide the country vital support in improving its economy.

Chairing the meeting, Zahid Maqbool, President ICCI said that energy and economic development are closely co-related but current energy shortage of more than 4500 MW has emerged as one of the biggest challenges for the national economy.

However, he hoped that US pledge to provide $ 125 million aid to Pakistan for energy development apart from providing cooperation in establishing three thermal power plants will contribute positively in mitigating the country’s energy woes due to which trade, industry, people and the whole economy is badly suffering.

Zahid Maqbool said that Pakistan’s economy has suffered a loss of about US$ 45 billion from 2000 to 2010 due to becoming a frontline ally against war on terror. He stressed that world community should come forward to compensate Pakistan by providing easy access to its products to their markets as Pakistan is fighting this war in the interest of whole world.

He called upon the US to speed up the payment of Coalition Support Fund worth $ 1.5 billion to Pakistan as holding back this release has caused drawing down on security reserves and a hefty cut in development projects of the country.

He said US should also use its leverage to get materialized FODP pledges to Pakistan as the current inflows from this forum are not up to the expectations.

Businessmen also welcomed US commitment to allow Pakistani products better access to its markets and expected that this good gesture will improve our exports. They termed US pledge for assisting Pakistan in agriculture sector a highly positive development. They said agriculture is the backbone of Pakistan’s economy and boosting agricultural productivity with US support will significantly improve health of our economy.

They said that US should provide nuclear technology to Pakistan for producing enhanced nuclear energy. They said another good option for US is to enter into joint ventures in energy sector of Pakistan which offers highly lucrative investment opportunities.

They said US should work closely with Pakistan for building road infrastructure and generating economic activities in troubled areas of NWFP so that people of this region could get job opportunities and improve their living standards.