Traders mark economic recovery in Swat
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.