RAWALPINDI, Oct 28: President General Pervez Musharraf said on Friday that reconstruction cost in the earthquake-ravaged areas would run into several billion dollars, given the damage done to all kinds of infrastructure, buildings and houses.
The president told James Lambright, president of the United States Export-Import Bank, that a donors’ conference on reconstruction in the quake zone would be held here soon where cost estimates would be placed before Pakistan’s development partners.
He invited the bank to support Pakistan in its reconstruction efforts and also in augmenting foreign direct investment, which would play a key role in job creation.
While Pakistan had succeeded in attracting FDI, the potential remains much larger, he observed while talking to the American banker who had called on him here.
He outlined the extent of death and destruction wreaked by the earthquake and the government’s efforts in respect of relief and rehabilitation.
President Musharraf observed that the government was determined to continue its policies aimed at strengthening economic growth and creating jobs which were really at the heart of poverty alleviation, despite several challenges in the quake-devastated areas.
He said that both reconstruction and “poverty-alleviating growth” were the highest priorities of the government.
Lambright expressed grief at the widespread devastation caused by the natural calamity and the loss of thousands of precious lives.
He said the bank would look for opportunities to support Pakistan in its efforts to overcome this crisis.
The EXIM bank president praised Pakistan’s economic policies and performance, underlining his confidence in the country’s economic prospects.
He reiterated the bank’s commitment to scale up its operations in Pakistan, “which has a bright economic future”.
Meanwhile, UN Secretary General Kofi Annan and President Musharraf had a telephonic conversation during which they discussed relief operations in the earthquake-afflicted areas in view of severe cold in the region, officials said on Friday.
They discussed this week’s Geneva conference in the context of international response to Pakistan’s worst natural disaster and also exchanged views on next month’s donors’ conference being held in Islamabad.
President Musharraf thanked Kofi Annan for his personal interest and leading efforts in enlisting international support for large-scale relief operations following the October 8 tragedy that has claimed more than 54,000 lives and left millions of people homeless.
The UN chief, who is expected to visit Pakistan in the near future, and President Musharraf have been in regular touch since the calamity struck Pakistan’s north. —APP
