Pakistani Merchandise: US urged to grant duty-free access

RECORDER REPORT

LAHORE: The Lahore Chamber of Commerce and Industry has urged the US administration to take urgent and immediate measures to grant duty-free access to Pakistani merchandise that would ultimately help overcome its economic woes.

The LCCI President Irfan Qaiser Sheikh in a statement on Saturday said that Pakistan needs extra-ordinary cooperation from the United States as it was a frontline ally with the United States while facing the brunt of war on terror even today when the rest of the world is on the path to progress and prosperity. "Economic stability of Pakistan through prompt direct market access to US is must for the economic viability of this country," he said.

Market access will help rehabilitate and reconstruct the totally damaged basic industrial infrastructure besides generating jobs of millions of jobless people. Besides this there exists a vast scope for US investors to make investment in several sectors including power, textile, food, livestock, diary and petroleum etc.

The US administration must convince the potential investors to put their money in joint ventures with Pakistanis.

Irfan Qaiser Sheikh said that if the United States comes forward at this point in time when the country is passing through unprecedented challenging times, the trade, economic and cultural ties between the two countries would flourish further.

He said that the Lahore Chamber of Commerce and Industry was putting in its best efforts for promotion of trade and resultant economic prosperity. He said that it goes without saying that America tops among the major trading partners of Pakistan and there are many areas including political, social, economic and defence, in which both countries collaborate and cooperate with each other.

A significant volume of Pakistan's exports find their way to US markets and likewise Pakistan imports fairly large amount of goods from America.

Considering the historic relations of both the countries and the critical role of America in the economy of Pakistan, the LCCI wishes to expand these ties for the mutual benefit of the two countries, he added.

The LCCI President also called for US help on energy issue that has contributed to the extent in aggravating the economic situation in Pakistan. He said that thousands of industrial workers are today without jobs because of ongoing energy crisis.