KARACHI: A majority of businessmen in Karachi are of the view that the approval of $1.5 billion non-military aid may help economy, but 'the industry is certainly more interested in trade rather than aid.'

Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President Sultan Ahmed Chawla said the aid would definitely create a positive impression among other countries that the US still supports Pakistan.

'But in reality, the industry does not like grants, aids and bail-out package,' he said that, adding 'If the US really wants to help Pakistan, it should open its market to our exports.'

He said that America should consider giving special status and tangible support to Pakistan, like Jordan, Egypt and some other countries, which can easily make their exports without any hassle.

Karachi Chamber of Commerce and Industry (KCCI) President Anjum Nisar said that the aid is a purely government to government issue which would give boost Pakistan's image regarding rising trust of the US since our country has been a front-line state on war on terror.

'The business community is really looking for trade and not aid,' he said adding, the businessmen are still looking forward for market access to Pakistani goods in the US markets for boosting country's exports.

Site Association of Industry Chairman Engr M A Jabbar offered a different view by saying that Pakistan is a resource constrained economy which needs improvement in macro-economic stability. The present budgetary outlay is dependent on budgetary support from external sources.

In the passage of Kerry-Lugar bill, Pakistan would be receiving a substantial amount to support its Public Sector Development Programme (PSDP).
He said that the objective laid by the US in providing this assistance is based on two directions. One is to combat terrorism and other is to provide money for development, education, health and improving the income level of poor.

Jabbar said the local industry due to shrinkage of PSDP has reduced the economy of scale of production due to lesser demand by public sector for wants of funds.

The industrial produce in Pakistan would have more access for capacity utilization due to such inflows which will provide fuel for increasing activities in industrial economy.

The substantial amount earmarked for research would result in identifying priorities in which Americans will provide this assistance.

F B Area Association of Trade and Industry Chairman Idris Gigi said 'taking aid is not a better option, but it may help control budgetary issues and deficit problems.'

'Had the US increased our quota for textile and other items or given more market access, it would have solved our problems of law and order and resulted in more jobs,' he said, adding 'aid is not a permanent solution.'

North Karachi Association of Trade and Industry chairman Younus Khamisani said that the US aid to some extent would definitely prove an added advantage to country's economy, but businessmen are not very optimistic.