29 February 2004	Sunday	08 Muharram 1425

WASHINGTON, Feb 28: US Secretary of State Christina Rocca has said that efforts are underway to further strengthen the US-Pakistan relationship.

She said this on Friday while speaking at a day-long seminar on 'Opportunities and challenges for Pakistani Americans', held under the auspices of Pakistani American Congress (PAC).

Ms Rocca said the US was working hard with Pakistan to overcome critical challenges, such as terrorism and nuclear proliferation, and to help create opportunities for the Pakistani people.

She said: "Frankly, we feel, although there are difficulties, difficult issues and concerns on both sides, on the whole, we are doing a good job and we are doing so in a rather dramatic way.

"Perhaps, the best known measure we are taking to assure the Pakistani people in the US's commitment for sustained long-term relationship is our five-year $3 billion assistance package."

Ms Rocca said President Bush told President Musharraf in Camp David last June that he would work with Congress to deliver over $600 million each year for the next five years, and added: "Some of you might not know how rare it is for the US to actually commit to a multi-year package. This package places Pakistan among the top recipients of US aid worldwide.

The US secretary of state said: "This new package is in addition to the US debt relief package which is to cut Pakistan's debt to the US in half from $3 billion to $1.5 billion since Sept 2001."

She said Pakistan's continued cooperation in the war on terror "is critical to us, and critical to Pakistani people, too".

"We also continue cooperation in rolling up of the proliferation network run by Dr A. Q. Khan. We are working closely with Pakistan to dismantle this network completely and permanently to ensure that no such activity occurs in future," she added.

On Pakistan-India relations, she said: "We are very pleased with the steps India and Pakistan have taken towards reconciliation."

Ms Rocca praised the economic achievements of Pakistan, and the enforcement of improved fiscal discipline. "We are hearing that there is distinct optimism among Pakistani business people lately, that economy is growing; current projections are that the growth rate will be between 5.5 and 6 per cent; foreign currency reserves have gone from several weeks to nearly a year of import cover; the rupee is stable, inflation is at its historic low."

She said: "While there is still a lot of work to do, but it is pretty positive picture."

She however referred to lack of direct foreign investment.

Raising a question as to what is the problem, and why are not the multinational companies investing in Pakistan, she said: "Multinationals are pleased with Pakistan's fiscal discipline, but they want evidence that it would be maintained.

"They are looking for functioning Parliament that would do positive things like debate, pass the fiscal responsibility law, control deficit and reduce Pakistan's debt, they want civil society to be part of that debate. They want to see terrorism and extremism curbed, and they want lasting resolution of Indo-Pakistan issues, they want intellectual property rights to be protected and sanctity of contracts preserved and respected-multinationals' looking for all these things."-APP