While the CIPE has supported programmes in Pakistan in the past, this is the first time it will establish an "on the ground" presence in the country.
Fudda will be responsible for administering the CIPE''s programmes in Pakistan and working with local organisations to strengthen the voice of business and promote market reforms, according to a report reaching Karachi from Washington D.C.
"The fact that we are opening an office in Pakistan is a sign of our commitment to its people and its stability. We are extremely fortunate to have someone of Moin Fudda''s stature to manage our office and programmes in Pakistan," said CIPE''s Executive Director John Sullivan.
The CIPE''s primary role in Pakistan is to support its local partners'' efforts to improve the business environment through advocacy and policy dialogue. The CIPE will also co-ordinate the provision of small project grants to associations and think tanks and assist in a public outreach and education program that will provide materials on entrepreneurship and market economics to policy-makers, educators, entrepreneurs, and the business community.
As KSE Managing Director since September 2002, Fudda initiated a comprehensive plan to reorganise and reinvigorate the institution. The reforms included the implementation of a code of corporate governance, exposure and margin requirements, improved risk management, and enhanced transparency at all levels to help restore confidence in the organisation and create what is now the most active stock exchange in Asia.
FUDDA''S PLEASED: "I am encouraged by the CIPE''s initiatives in developing countries involving the private sector in policy advocacy, institutional reform, and improving good governance," said Fudda.
"Pakistan''s impressive economic gain has been possible due to the market-oriented structural reforms of the past five years. I have been actively involved in implementation of these reforms at the corporate level and now will continue to contribute more in this process by joining the CIPE, " he added.
The CIPE is a non-profit affiliate of the United States Chamber of Commerce and one of the four core institutes of the National Endowment for Democracy. The CIPE has supported more than 800 local initiatives in over 90 developing countries, involving the private sector in policy advocacy and institutional reform, improving governance, and building understanding of market-based democratic systems. The CIPE programs are also supported through the United States Agency for International Development.