KARACHI: A team of USAID comprising Mohsin Malik (FDI Mobilization Specialist) and Kamal Ali (lead Consultant on Pipeline Organization), while highlighting some salient features of Investment Pipeline Program under USAID Investment Promotion Activity, sought Karachi Chamber’s assistance for encouraging maximum number of Pakistani firms to participate in this major initiate designed to attract foreign direct investment in Pakistan.

Exchanging view at a meeting with President KCCI Mohammed Tariq Yousuf, Vice President Haris Agar and KCCI Managing Committee Members, Mohsin Malik informed that Pakistan Investment Pipeline Program was launched one-and-a-half month ago to develop a pipeline for investment ready projects from Pakistan seeking to attract foreign direct investment into Pakistan and connect them with international investors.

“Registered Pakistani firms from Information & Communication Technology, Agri-Tech Business and Processing, Manufacturing, Hospitality & Tourism and other sectors also can participate in this project by submitting a simple application form available online by June 30, 2023 and a total of 30 firms will be shortlisted for this project”, he informed, adding that USAID also intends to hold three roadshows in Dubai, San Francisco and Saudi Arabia where the shortlisted Pakistani firms will be taken so that they could be connected with foreign investors.

He informed that through the IPA Fund, the said project was providing grants to firms registered in Pakistan that have high potential for raising FDI and were interested in enhancing trade with the United States. These grants, he said, will play a catalytic role to support the matchmaking of Pakistani firms with investors in the US and other countries.

Mohsin Malik said that USAID IPA was a five-year project that was helping to strengthen Pakistan’s business enabling environment, build capacities of Pakistani institutions focused on investment promotion, improve FDI ecosystem and increase US-Pakistan bilateral trade and investment. “The project is helping to remove barriers to investment and trade by facilitating, Pakistani led improvements in government regulations and improving the overall investment climate.”

President KCCI Mohammed Tariq Yousuf, while warmly welcoming numerous activities being carried out by USAID to support the economy and businesses in Pakistan, extended full support and cooperation to make Pakistan Investment Pipeline Program successful by disseminating information about this project through all modes of communication amongst its members and encouraging them to densely participate in this initiative.

He was of view that although the project was undertaken one-and-a-half month ago but KCCI has been approached belatedly leaving very little time for disseminating the info about this project. “However, we will try our best to support this project as much as possible so that it becomes successful as it has purely been designed to attract the desperately needed FDI in Pakistan”, he added while requesting USAID team to look into possibility of extending the last date for submitting application form which would help in ensuring maximum participation from KCCI’s platform.