From the President’s Desk

We Americans are aware that the U.S. has just passed through one of the worst economic downturns and a recession. With hindsight it may be said that this could have been worse than the depression of the 1930s if quick and bold corrective steps were not taken by the administration. The recession was a collective result of several not-so-good policies for the past years, but it showed its worst face in the middle of 2007 with many banks failing and unemployment reaching just under 10%.

As I write this, unemployment seems to be easing with new job creations, but many moving parts of the economy need to be continuously and carefully tinkered with for quite some time to ensure that we get back on solid footings again. Despite seeming improvements, there are a few worrying aspects of the recession and results of corrective measures that need to be managed intelligently. A Few important ones are as follows: Our National debt is highest ever needing reduction, our interest rates are almost zero percent for over three years needing correction, our economic growth is still around two percent only needing a boost, our job creation is much slower than we would like, administration is trying to have a balance in reducing the overall expenses, the dollar is seemingly weak, inflation is almost knocking at the door because of low interest rates, QE 1 and 2 have been exhausted and the results are not as good as expected. Our recession has affected the global economy with a number of rich European nations coming to the verge of bankruptcy. Our Fed chairman and Treasury secretary have been working together to get their arms around the whole problem and are seemingly getting on top of the relevant issues.

Onus is on all of us Americans to chip-in in every way possible to help the nation to get over this calamity. We all know that Trade and Commerce is one of the important factors in any economy. PCC-USA has always strived for improving this sector in all different ways since it came into existence. Under my watch in 2011 we have promised ourselves to do still more. It has been a rewarding and challenging experience to lead an all-volunteer member organization. It has been a major goal of mine and I am set to assist business owners face the current challenges before them. I remain open to new processes, new ideas and new thinking. I anticipate doing great teamwork together and we are clearly ready to deliver on what distinguishes our community from others. I appreciate all the business owner’s contributions and additions to the momentum and interests of our community. Together we can continue to “Build a Better Business Community” and keep “PCC-USA” front and center in the minds of all. We have already had several seminars in last few months and expect to continue this useful tool proactively for the remaining of my term. We will accelerate our efforts to help the economy to get healthier sooner. I am thankful to our immediate and all past presidents and boards for their help in all respects wherever needed. I am confident with my 2011 team on the board of directors and committee chairs of PCC-USA; they have already started their programs and will continue for the rest of the year to achieve our objectives of helping ourselves and the nation in improving the economy.

In the end, I would like to specially thank Dr. Ashraf Abbasi, Founder of PCC-USA for his continued guidance. I also pray to Almighty Allah to give us the strength to work for the prosperity of our community in this turbulent time. I thank you all again for giving me the opportunity to lead this prestigious organization. I am also grateful to all the EBD members for their dedication that has brought this Chamber to a new level of excellence.

God Bless America & Long live Pak-American Friendship!

Parvez Jamil Khan Swati