SCCI calls for further cementing Pak-U.S bilateral trade and economic ties

16 November 2023

Sarhad Chamber of Commerce and Industry president Fuad Ishaq said new discoveries made in oil, gas and other natural resources in Khyber Pakhtunkhwa but geological survey wasn’t conducted since last two decades, therefore, urged U.S to provide assistance in conducting a geological survey in the province.

Emphasizing on further cementing Pak-US bilateral trade and economic relations, the SCCI chief invited US companies and investors to make investment in the potential sector in Khyber Pakhtunkhwa.

He made these remarks during a meeting with U.S Consul General in Peshawar Mr Shante Moore, who visited the chamber house on Thursday, according to a press release issued here.

On the occasion, the SCCI senior vice president Sanaullah Khan, vice president Ijaz Khan Afridi, former presidents Haji Muhammad Afzal, Zahidullah Shinwari, Zulfiqar Ali Khan, Faiz Muhammad Faizi, Sherbaz Bilour, executive members Hafaf Ali Khan, Monawar Khurshid, Kashif Amin, Qurtul Ain and Fahad Amin, Khalid Sultan Khawaja, Ashfaq Ahmad, Saleem Bokhari, Ihsanullah, Muhammad Akhtar, Saddar Gul, Fazl e Wahid, Ishtiaq Ahmad, Women chamber Peshawar vice president Aneela Khalid, traders and industrialists were present.

Accompanied by political economic section chief Mr  Dustin DeGrande, Political Economic Officer James Pershing, and Economic Specialist Mr Shahid Islam, and others, the US diplomat said his country is fully committed to further enhance commercial, trade and economic ties with Pakistan.

He added the mutual trade volume can be improved by launching joint initiatives, ventures and efforts. 

Shante Moore mentioned USAID has played a pivotal role in economic and social progress, especially promotion of small and medium enterprises (SMEs), technical and financial assistance to youth, infrastructure development, education, agriculture and other important sectors.  

Fuad Ishaq praised USAID for initiating a social and economic development program in K-P.

Commenting on trade with regional countries, he demanded to allow trade with Afghanistan, Iran and China in Pakistan rupee.

He called for tax reforms, especially rationalizing duties/tariffs to further enhance bilateral trade volume with regional states.

On the occasion, he stressed the need for provision of constitutional rights on electricity and gas to Khyber Pakhtunkhwa so that the wheel of business, industry and employment will keep running and ensure sustainable economic growth and development.

He mentioned that KP was adversely affected for the four decades due to unfavorable circumstances because the business, industries, economic and social progress have been slowed down.

Fuad Ishaq on the occasion called for reviewing the agreements of Independent Power Producers (IPPs), which has caused a severe energy crisis in the country. 

He urged the U.S to take special initiatives of industrial and agriculture growth in Pakistan.

He said the abilities of Pakistani youth are unmatched which should provide technical and financial assistance to utilize their skills for economic development and prosperity.

He said long-term Pak-U.S relations and collaboration can bring economic prosperity and progress in the country.

Shante Moore said Pakistan is an important ally, friend and partner, saying that his country wanted to further collaborate in multi-sectors and enhance the bilateral trade and economic relations.

The CG stressed the need for joint initiatives to further cooperation and improve the bilateral commercial and bilateral ties between the two countries.

He acknowledged that abundant potentials exist in KP, especially youth who are highly skillful, which are providing technical and financial assistance through various interventions and programs.

Replying to various queries of SCCI members, Shante Moore assured that steps would be taken to ensure timely issuance of visas to the business community. He said collaboration will be further strengthened through joint measures and programs.

On the occasion former presidents and members of the business community also spoke on the occasion and highlighted importance for further improving Pak-U.S bilateral trade and economic relations.