The President is authorized to designate a private, nonprofit organization based in Pakistan (to be known as the ‘Pakistani-American Enterprise Fund’) to receive funds and support made available under this Act after determining that such organization has been established for the purposes specified in section 3. The President should make such designation only after consultation with the leadership of each House of Congress.
The purposes of this Act are--
(1) to promote the private sector in Pakistan, while considering the development impact of investments and profitability of those investments, particularly in small- and medium-sized enterprises, the energy and electricity sector, and joint ventures with participants from the United States and Pakistan;
(2) to promote policies and practices conducive to strengthening the private sector in Pakistan through measures including loans, microloans, equity investments, insurance, guarantees, grants, feasibility studies, technical assistance, training for businesses receiving investment capital, and other measures;
(3) to promote good corporate governance and transparency in Pakistan, foster competition, catalyze productivity improvements in existing businesses, and strengthen local capital markets;
(4) to promote security through job creation in the private sector in Pakistan and to further the creation of a middle class in Pakistan;
(5) to promote private sector adherence to tax codes in Pakistan and, where appropriate, foster improvements in the tax code and regulatory environment in Pakistan in order to support economic development.
Read the whole bill here.