US companies interested in investing in Pakistan: US official

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The US diplomatic chief for South Asian affairs, Alice Wells, said Friday that US energy companies and manufacturers are interested in the Pakistani market.

Wells, the deputy chief deputy secretary of state for Central and South Asian Affairs, said Exxon-Mobil, Excelerate, Cargill and Honeywell are looking for significant new investments.

The US diplomat said the Uber online taxi service is creating 80,000 jobs for Pakistani youth.

Instructions In the Washington media, Wells criticized China’s “One Belt One Road” projects and said “One Belt One Road projects often do not adhere to international standards.”

“And the argument I was making in Pakistan is that there are opportunities and there should be opportunities for US investment, American energy companies and manufacturers are interested in the Pakistani market,” said the US diplomat.

However, he said it was Pakistan’s “sovereign right” to decide what investment he seeks and in what terms.

“And a friend from Pakistan, we certainly urge them to take on investment projects that generate wealth, generate employment and are sustainable, and think we have excellent options for the Pakistani market,” she said.

However, Pakistan made it clear that Chinese investment in Pakistan was not a “debt trap.”

In an interview with CNBC, Prime Minister Khan said: “Pakistan is grateful to China, since they helped us in difficult times making investments.”

The prime minister said that Chinese loans represent only 5% to 6% of Pakistan’s total loan portfolio.

Satisfied about Pakistan’s progress in the FATF plan

The US diplomat said it would be devastating for Pakistan’s economy and its ability to attract investors if Pakistan does not meet FATF obligations and is not blacklisted. She, however, said Pakistan was fulfilling the obligations of the FATF.

“We are pleased to see Pakistan’s progress towards fulfilling the FATF obligations,” he added.

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