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Pak-American trader satisfied with economic growth


April 12
, 2005. Business Recorder

 

http://www.brecorder.com/index.php?id=229038&currPageNo=1&query=&search=&term=&supDate

 

WASHINGTON (April 12 2005): 'Five years of hard work by the top Pakistani leadership and placement of a good management team is starting to pay fast dividends,' said a noted Pakistani American businessman Pervez Lodhie. Talking to APP on Sunday, he expressed satisfaction over the progress of Pakistan's economy, and referred to all key economic and fundamental indicators, showing that the goals were being achieved faster than set time limits. "However", he said, "there is still a lot of work to be done in Pakistan; all is not perfect. Fifty years of the country's neglect and gross miss-management by a few cannot be fully fixed in five years except by some magic.

"Other critical problems that need to be addressed include law and order, corruption, healthcare, and education.

"The Transparency International shows that corruption index went up 20 percent in 2004 after declining for four years. This may be due to reduced government focus on corruption. This sudden increase in corruption index should be immediately analysed, and appropriate, corrective actions should be taken," said Pervez Lodhie.

Lodhie was the Corporate Board member of the US-Pakistan Business Council (USPBC) with a 15-member high-level US business delegation that recently visited Islamabad. The delegation included representatives of major companies along with Pak-American businessmen.

Lodhie said: "The only foreign investors clearly missing from this centre of the region that will be the highest growth region of the world are investors from the United States of America.

"The Middle Eastern, European and South Asian companies and investor groups are quickly grabbing the major government entities being privatised in Pakistan," he said.

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