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US agency mulls big investment in Pakistan, says envoy

ISLAMABAD: US Am­­bassador in Pakistan Don­ald Blome said on Friday that the US International Development Finance Corporation (DFC) was eager to make large-scale investments in Pakistan. During a meeting with Shahid Ashraf Tarar, the caretaker minister for communications, railways and maritime affairs, Mr Blome said the United Sta­tes was ready to help Pak­istan create a business-friendly environment to boost investments. He said Pakistan had an excellent opportunity to attract foreign investme­nts due to the diversification of industries and businesses in South Asian economies. The DFC is the US government’s development fi­­nance institution that par­tners with the private sector to finance solutions “to the most critical challen­ges facing the developing world”, its website says. The corporation invests in projects that create jobs in emerging markets in sectors like energy, healthcare, critical infrastructure, telecommunications and financing for small businesses and women entrepreneurs. Mr Tarar told the US ambassador that the Karachi-Peshawar railway track was affected at certain vulnerable points during the recent floods, and the United States could cooperate with Pakistan Railways to reclaim these vulnerable tracks and secure them from future possible floods. Published in Dawn, September 9th, 2023
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