Reconstruction opportunity zones: US to set up zones in Sindh and Punjab as well
Bill expected to be tabled in Congress by March.
ISLAMABAD:
The United States has agreed on establishing Reconstruction Opportunity Zones (ROZs) in flood-hit areas of Punjab and Sindh following an earlier plan to set up such zones in conflict-ridden provinces of Balochistan and Khyber-Pakhtunkhwa.
US President Barack Obama’s Senior Adviser David Lipton, who is currently in Pakistan, assured Islamabad of cooperation in the construction of ROZs during his meetings with stakeholders including finance and commerce ministries, according to officials.
A bill regarding the establishment of ROZs is still pending with the US Congress but it is expected to be tabled before the newly elected Congress by March, according to Lipton.
The bill for creating ROZs was moved under the Bush administration but still awaits a congressional approval.
All products manufactured in these zones will have duty-free access to US markets.
It has been learnt that a foreign investment to the tune of $1.5 billion is expected with the construction of these zones, officials said.
According to the officials, Federal Commerce Minister Makhdoom Amin Fahim in a letter requested Lipton to consider setting up ROZs in flood-hit Thatta, Dadu and Badin in Sindh and Muzaffargarh in Punjab. The minister also requested some additions in Khyber-Pakhtunkhwa and Balochistan.
Published in The Express Tribune, January 30th, 2011.
The United States has agreed on establishing Reconstruction Opportunity Zones (ROZs) in flood-hit areas of Punjab and Sindh following an earlier plan to set up such zones in conflict-ridden provinces of Balochistan and Khyber-Pakhtunkhwa.
US President Barack Obama’s Senior Adviser David Lipton, who is currently in Pakistan, assured Islamabad of cooperation in the construction of ROZs during his meetings with stakeholders including finance and commerce ministries, according to officials.
A bill regarding the establishment of ROZs is still pending with the US Congress but it is expected to be tabled before the newly elected Congress by March, according to Lipton.
The bill for creating ROZs was moved under the Bush administration but still awaits a congressional approval.
All products manufactured in these zones will have duty-free access to US markets.
It has been learnt that a foreign investment to the tune of $1.5 billion is expected with the construction of these zones, officials said.
According to the officials, Federal Commerce Minister Makhdoom Amin Fahim in a letter requested Lipton to consider setting up ROZs in flood-hit Thatta, Dadu and Badin in Sindh and Muzaffargarh in Punjab. The minister also requested some additions in Khyber-Pakhtunkhwa and Balochistan.
Published in The Express Tribune, January 30th, 2011.