Traders mark eco­nomic re­cov­ery in Swat

The Pak Banker - - NATIONAL -

U.S. Am­bas­sador Richard Ol­son and Gov­er­nor of Khy­ber Pakhtunkhwa Shaukat Ul­lah Khan, Thurs­day joined busi­ness own­ers to cel­e­brate the dra­matic eco­nomic re­cov­ery of Swat Val­ley.

The pos­i­tive come­back was made pos­si­ble through a strong part­ner­ship be­tween the U.S. Agency for In­ter­na­tional Devel­op­ment (USAID), the Khy­ber Pakhtunkhwa (KP) pro­vin­cial government, the KP Tourism Cor­po­ra­tion, and busi­ness own­ers in the re­gion. The ho­tels and fish­eries pre­vi­ously dam­aged by con­flicts and floods have in­creased their sales rev­enues from $454,000 in 2010 to $4.2 mil­lion in 2012, and gen­er­ated over 2,000 new jobs. Am­bas­sador Ol­son said in the wake of the con­flict and floods that have dev­as­tated the area over the past five years, in 2010, the U.S. government and the government of Pak­istan jointly de­cided that the re­cov­ery of the Swat Val­ley's econ­omy should be a pri­or­ity.

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