US eyes boosting investment in Pakistan

Envoy highlights employment of Pakistanis at US firms, women's inclusion initiatives

LAHORE:

US businesses in Pakistan are playing a pivotal role in fostering economic growth, creating jobs, and promoting women's empowerment, according to remarks shared during a gathering of the American Business Forum (ABF) in Lahore.

As per a press statement released on Monday, over 80 US companies operating in Pakistan employ 120,000 workers directly and support over a million indirectly, driving local economic opportunities and skill development. Speaking at the event, a US official highlighted the companies' efforts in providing senior-level managerial and technical training, as well as spearheading innovative research and development projects.

"US companies are not just here for profit but are helping to transform communities through initiatives that promote education, health, and women's inclusion in the workforce," the official noted. Collaborations like the US-Pakistan Women's Council and partnerships with companies like PepsiCo aim to enhance female participation, particularly in agriculture.

Corporate social responsibility (CSR) projects by US firms were also commended. Initiatives like the "Recharge Pakistan" project, led by Coca-Cola and the World Wildlife Fund, focus on flood prevention and water management. ABF's campaigns, including raising awareness about breast cancer, were similarly highlighted as examples of community support.

On the trade front, recent economic improvements, such as declining inflation, were acknowledged as positive developments, while continued adherence to reform commitments under the International Monetary Fund (IMF) programme was stressed as essential for long-term progress.