US Consul General in Karachi, William Martin on Wednesday said the American government is active in promoting US investment, particularly in the energy sector in Pakistan. Speaking during his visit to Karachi Stock Exchange (KSE) here, Martin said the American and Pakistani partner companies have proposals pending with the government of Pakistan to build infrastructure to import liquefied natural gas.
"I am sure there are many more opportunities for us to work together," he added. He said Karachi Stock Exchange, is an important symbol of Karachi's role as Pakistan's economic and commercial capital. "It is an honour to ring the bell to start today's trading at this great institution," he said. He said the United States is committed to a strong bilateral relationship and to continuing to strengthen economic opportunities between the two countries.
"We applaud the Karachi Stock Exchange Board of Directors for taking the initiative to promote dialogue with regional stock exchanges," he said, adding that this is an important step in assuring that 'Pakistan plays a more significant role in the global economy. "The United States looks forward to exchanging ideas on how we can work together to the benefit of the people of Pakistan through trade and economic growth," he said.
"We believe that for trade to grow, it must be as broad-based as possible and not limited to any one sector," he said. There is so much talent in Pakistan, so much economic potential in this great country. Every opportunity to build on that talent must be explored. And Karachi is the place to do it. As the hub of economic and commercial activity, with renowned universities, it is clear that the tremendous potential of Pakistan has barely been tapped, he mentioned.
"I am an optimist about Pakistan and its future", he said. It is a country of exceptionally talented people. "Things will improve, and business will lead the way," he said. Business will provide the investments and ideas to help Pakistan realise its unlimited potential, he added.
Speaking on the occasion, KSE Chairman Munir Kamal welcoming the guest at the exchange, said the US investors had been very active at the local bourse. "We have seen deep rooted investment of US investors here," he said. He pointed out that the US investors had 80 percent share in the total foreign investment at the bourses. "Now the total foreign investment at the local equity market is around $2 billion," he mentioned.
He said that trading activities affected at the local bourse due to economic, political and geo political situation. However, he said things are improving gradually and expressed the hope that the trade will also increase at KSE. Managing Director KSE, Nadeem Naqvi welcomed the guests and briefed them about the overall performance of the Pakistan's premier stock exchange.
Earlier, the US Consul General rang the traditional opening bell at the main trading hall of the KSE. The trading session began on the ringing of the bell. Later, the US Consul General had a meeting with the KSE board of directors and discussed issued related to economy.
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