PESHAWAR: ‘Frontier has potential to attract investment’ : Reconstruction zones to be set up soon
By Our Correspondent
PESHAWAR, Nov 17: A former president of the Sarhad Chamber of Commerce and Industry (SCCI), Ghazenfar Bilour, has said that the NWFP has great potential to attract foreign investment.
Talking to journalists here on Friday, Mr Bilour said that the United States would finalise a law for establishing the Reconstruction Opportunity Zones (ROZ) in tribal areas bordering Afghanistan by the end of this year.
He said the goods to be manufactured in the ROZ would be given duty-free access to American markets.
Mr Bilour was part of an official delegation which visited the US last month to hold talks with the US policymakers, parliamentarians and businessmen regarding the planned zones.According to him, a legislation pertaining to setting up of ROZ in Pakistan had already been tabled in the US Congress and following its approval the US government could implement the project.
US President George W. Bush had announced setting up of ROZs in Pakistan’s tribal belt during his visit to Islamabad in June, 2006, as a step to mitigate deep-rooted poverty and backwardness of these areas.
Mr Bilour said during its meetings with American businessmen, members of Congress and other officials, the delegation presented the proposals of the SCCI regarding the establishment of the ROZ.
He said the American investors were provided information on investment opportunities in the NWFP. He said: “I tried to clarify to the US officials and businessmen that the negative impression created by the media about the NWFP is baseless.”
Mr Bilour said that establishment of the ROZ would help in reducing poverty and countering extremism and terrorism.
He said the delegation had given various recommendations, including setting up of ROZ in the settled areas of the NWFP rather than the tribal areas, inclusion of more products in ROZ other than textile and sustainability in the policy of duty-free access in the American markets.
