The Trade Development Authority of Pakistan (TDAP) wants the US government to expand its list of Pakistan-made goods that have zero-duty on entry into America.
A formal request was made by TDAP Secretary Rabiya Javeri Agha during a reception for a US delegation led by Overseas Private Investment Corporation (OPIC) President and CEO of Elizabeth Littlefield, who briefed the Pakistani business community on mobilising private capital for growth in Pakistan.
The event was organised by the US consulate in collaboration with the TDAP and the Sindh Board of Investment. Littlefield was accompanied by US Ambassador to Pakistan Richard Olson.
Agha said that Pakistan was facing numerous challenges developing mediums for sustainable energy generation, nuclear carbon capture storage and renewable energy. She hoped that OPIC’s investment would help mobilize private capital to solve these critical challenges and to catalyze job opportunities in Pakistan.
She also highlighted the role of the TDAP in enhancing trade through investment-promoting events and thanked the US Consul General in Karachi for coordinating with the TDAP to host GSP sessions which were directly broadcasted from the US.
Littlefield briefed the Pakistani business community about the details of OPIC products and explained the parameters for such projects.
OPIC offers investment and financing to Pakistani companies focused on infrastructure development, sustainable energy and other value added projects. The financing also covers Small and Medium Enterprises (SMEs).
She said the OPIC was working in more than 100 countries and moreover, it was directing and guaranteeing loans for all kind of projects ranging from 2 to 40 million dollars. She added that the OPIC was already funding the expansion of the Agha Khan University Hospital, a sapphire and a bio-mass energy project.
Olson assured Pakistani investors of the continued support of the US government and that after the Dubai Investment Conference $48 million had been set aside as seed money for public-private partnership projects.
Sindh Board of Investment (SBI) Chairman Zubair Motiwala highlighted the significance of the OPIC visit to Pakistan which would positively influence foreign direct investment in Pakistan’s key sectors. He also proposed holding road shows in the US to highlight feasible projects in Pakistan to gain the attention of US investors and to promote Pakistan-US investor business relations.
