WASHINGTON, December 15 The Council on Pakistan Relations today expressed deep disappointment over the elimination of an Enterprise Fund for Pakistan in the State Department portion of an omnibus FY 2012 appropriations bill released late on December 14 by the House Appropriations Committee (HAC).

We are deeply disappointed in this action, said Ashraf Qazi, Council chairman. A Pakistan Enterprise Fund of $60 million as in the Senate bill would be a crucial first step in providing much-needed capital for small and medium size businesses. It could really help the economy of the country, which has been devastated. Let’s not forget the great suffering of the people of Pakistan, tremendous damage to Pakistan’s economy, and regional instability as a result of war on terror.

The Senate version of the bill, passed by the Senate Appropriations Committee in September, included a provision authorizing establishment of enterprise funds in Egypt, Tunisia, Jordan and Pakistan. The version in the bill released by the HAC deletes Pakistan but retains the authorization for the other three countries.

This has been a priority for the State Department and USAID, as Secretary Clinton has clearly stated, said Mr. Qazi. It would be an important stepping stone toward economic development.

He pledged a continued commitment by the Council for establishment of a Pakistan Enterprise Fund.

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