US companies keen to invest in Pakistan’s energy sector: Miles Young

US companies have shown interest in investing in the energy sector of Pakistan considering the great potential in power, oil and gas sector, said US-Pakistan Business Council (UPBC) Chairman Miles Young at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday.
The head of the visiting delegation from USA, said American companies including GE, Shell and others are already initiating their projects in Pakistan.
He said UPBC is quite concerned about the ongoing energy crisis in Pakistan and is keen to resolve it. The UPBC represents major multinational companies of USA in Pakistan and the delegation is on a fact-finding mission, seeking joint ventures and bilateral trade promotion during the visit.
Young said the lowest volume of foreign direct investment (FDI) from USA to Pakistan during the recent years was not due to any particular reason but due to economic crisis all over the world that also affected USA. He said it was a misconception that USA stopped FDI to Pakistan in recent times and this should not be taken negatively.
He further said the biggest challenge for UPBC is to present Pakistan positively among American investors since media, especially CNN and Fox TV, are not projecting a positive image of Pakistan these days. He said UPBC is not a branch of the US government and works independently.
He said that by and large it was a responsibility of the business community of the two countries to promote bilateral trade. “We want to do business with Pakistan because it is a country of the future,” he said.