ISLAMABAD, Feb 20: Travel advisory issued to the United States nationals visiting Pakistan is more of an issue of perception rather than a reality, observed members of a US delegation.

“The crime rate in Karachi is lower than the crime rate in my hometown Washington D.C.,” Executive Vice President and Chief Operating Officer of OPIC Ross Connelly said at a press conference here on Tuesday.

Mr Connelly, who flew into the federal capital after spending two days in Karachi, said that it was a safe place with wonderful people.

However, he stressed that it was a matter of staying on course for changing the perceptions.

The eight-member US delegation, which began its visit from Feb 16, comprised officials of Overseas Private Investment Corporation, Export and Import (EXIM) Bank and Trade Development Agency (TDA).

The high-powered delegation of US agencies concerned with private investment had arrived as a follow-up of the commitment of President Bush to strengthen economic ties with Pakistan, Mr Connelly said.

The EVP of EXIM Bank disclosed that the bank had already made investments of more than $200 million out of the credit line of $300 million announced by President Bush last year.

When asked whether the political risk for foreign investment would increase with the holding of elections in Pakistan, Mr Connelly said the increased political participation would further improve the already favourable investment climate in the country.

“If the planned elections go as everyone expects them to go it would be a tremendous endorsement of the political stability in Pakistan,” he added.

To a question whether more high-level delegations were expected to visit Pakistan, he said actually they were the top officials of their respective agencies and they had come as a follow-up of President Musharraf’s visit to the United States.

“You have got a very significant response from these three agencies,” he added.

Vice-Chairman of EXIM Bank Eduardo Aguirre said they would be meeting officials of Pakistani banks during their stay to explore the possibility of extending support to private businessmen.

Regarding the issue of money laundering, he said it was certainly on the agenda which they would be discussing with officials in Pakistan.

“The governments of United States and Pakistan are very much on the same page on the issue of money laundering prevention,” he said.

Both the countries had been devoting a great deal of resources on improving the banking system, he said, adding that money laundering was one corruptive element which could destroy the financial system.

Mr Aguirre said that the EXIM Bank would help PIA and Boeing company reach an agreement on the sale of Boeing aircraft.

He said there were a number of proposals on the table and it was a matter of priority.

When asked how long the recent detente between the US and Pakistan would last, Mr Connelly hoped that it was going to last for long. He said that leaders in the United States were convinced that Pakistan had made significant departure from past policies and had been trying to reform the system.

Without identifying specific projects, the vice-chairman of EXIM Bank said they had approved one project about financing of privatization of oil and gas sector, two projects, which were near completion, were in power sector and they had one application of an information technology project.

He said there were several other projects which were in evaluation stage and they had met the sponsors of these projects in the ICC meeting in Karachi.

EXIM Vice President Michael J. Petrucelli, Special Assistant to the EXIM Chairman James H. Lambright, OPIC Vice President for External Affairs Christopher Coughlin, OPIC Investment Insurance Officer Richard Abizaid, OPIC Senior Investment Officer Mark Sproles and TDA Chief of Staff Carl B. Kress were the other members of the delegation.