20000401

Business urged

to utilise TDA

grants

RAWALPINDI: The chambers of commerce and industries and other industrial associations can explore possibilities of grants from Trade and Development Agency (TDA) to enhance their commercial activities and economic productions.

These grants are without obligations and tie-ups. The chambers and associations can obtain information on the TDA and EXIM Bank through web sites and then visit them to make presentations and discuss possible grants.

This was stated by Dr Mohammad Raziuddin Arshad, Chief Executive Officer of Pakistan Attock Oil Refinery (AOR), while talking to APP here on Friday. Dr Raziuddin had participated the Energy South Asia Conference organised by the TDA, USA in collaboration with the Department of Energy (DOE), USA and Usaid at Kathmandu during second week of March 2000.

He said the US government has taken an initiative to match the energy sector development with other sectors of Saarc countries economies. The delegates were from Pakistan, USA, Saarc Secretariat, Bangladesh, Sri Lanka, India, Bhuttan, Maldives and Nepal.

Dr Raziuddin said the main purpose of this initiative is to dispense grant through the TDA to the potential companies of Saarc countries, which require it for feasibilities, expert visits, technical studies etc.

The grant from the TDA would act as seed money to initiate mega-projects. The TDA dispenses grants anticipating that the projects would be eventually built with US plant, equipment and machinery, thus bringing business for US companies. As per their statistics, they have been very successful, adding he said, India has been one of the main beneficiaries of these grant/funds.

He lamented that Pakistan has not tapped this grant. Bangladesh and Nepal are also moving fast to tap this fund. US EXIM has changed its policies to suit the developing nations.

He said papers were read on refining, thermal power, hydro plants, regulations, renewable energy cross-border energy trade and financing. There were about 33 presentations from India, 12 from USA, eight from BD, three from Nepal, two from Bhutan and only one from Pakistan which shown the apathy of our professionals.

AOR Chief Executive said a US delegation had visited Pakistan in December 99, to solicit interest, but out of numerous oil and gas, fertilizers and other companies visited, only one company could qualify or showed interest.

He said that Abdullah Yusaf, Secretary Petroleum, who also participated the conference, gave a very befitting reply to the critics of Pakistan's handling of IPPs issue. Abdullah Yusaf said Pakistan is the first country in the world to conceptualise IPPs. Pakistan coined many of the vocabularies now commonly used in IPP works.ÑAPP