LAHORE, Aug 2: US Consulate Principal Officer Bryan David Hunt has said a high-powered US delegation, comprising businessmen and officials of various departments, would visit Pakistan in the next few weeks to have first-hand knowledge of the available investment opportunities particularly in the area of reconstruction.

Speaking to Lahore Chamber of Commerce and Industry President Mian Shafqat Ali and executive committee members here on Wednesday, he said the US was very happy with the rate of economic growth in Pakistan and wanted to see continuation of economic policies.

About power shortage in Pakistan, the US diplomat said the United States was looking into the matter and would ensure provision of technology for cheaper power generation.

Chamber president Mian Shafqat stressed the need for easing out regulations for Pakistani exporters. He said Pakistan’s access to the US markets was restricted owing to provision of subsidies on agricultural products. Recently, global trade talks were suspended when the ‘Big Six’ trading nations of the world failed to break the deadlock over issues relating to farm subsidies and market access.

After a long time there was a hope that the developed world would be forced to reduce farm subsidies so as to allow an increase of import of agricultural produce from the developing world in their markets.

He also called for early finalisation of the Bilateral Investment Treaty in order to provide an institutional partnership with the US. The finalisation of BIT would enhance the volume of trade between the two countries and as a result more employment opportunities and business activities would be generated in Pakistan.

LCCI Senior Vice-President Abdul Basit said the liberal economic policy in Pakistan encouraged investment initiatives in different sectors. Investment operations had the potential to access the Central Asian, Pacific Rim, and Gulf markets.

The Gwadar Port, he said, offered huge opportunities for investment by US citizens. He appreciated the US plan to set up Reconstruction Opportunity Zones in Pakistan to constitute to the overall economic uplift of the commercially-depressed zones and to help strengthen infrastructure of these areas.