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US calls on companies to rebuild Pakistan after floods

The US ambassador to Pakistan on Wednesday encouraged US companies to invest in reconstruction of the country, saying it will have vast needs after its worst-ever floods.



Washington: The US ambassador to Pakistan
on Wednesday encouraged US companies to invest in reconstruction of
the country, saying it will have vast needs after its
worst-ever floods.

"Perhaps it`s a little insensitive to talk about this
now, but I do want to mention that I think this will provide
opportunities for American business as we try to build back
better," Ambassador Anne Patterson told companies.
Patterson, speaking on a conference call arranged by
the US Chamber of Commerce, said the extent of the damage was
still unclear but that Pakistan would have major needs,
including reviving its battered agriculture sector.

Pakistan`s worst humanitarian catastrophe has
affected more than 17 million people.

Even before the flooding, Pakistan was in an
economic bind and needed a bailout from the International
Monetary Fund whose conditions it is now seeking to
renegotiate.

Pakistan has been struggling to attract foreign
investment in part due to worries about security in the
country at the frontline of the international campaign against
Islamic extremism.
The United States last year authorised a USD 7.5
billion aid package for Pakistan and has also contributed more
than USD 150 million for flood relief.

Despite some criticism at home, the United States
has prioritised working with local groups and firms instead of
US ones in a bid to build capacity in Pakistan.

PTI

From Zee News

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