Japan offers to install 500MW power plants: The News

Thursday, July 24, 2008
By Israr Khan

ISLAMABAD: Japanese government on Wednesday offered Pakistan installation of two 500-megawatt power plants and showed interest in increasing investment in the automobile industry, while Islamabad assured Tokyo of establishment of Special Economic Zone (SEZ) for Japanese investors on priority basis, which would be equipped with basic infrastructure.

Federal Minister for Finance, Privatisation & Investment Syed Naveed Qamar assured this in a meeting with a visiting 15-member Pak-Japan Business Forum delegation led by Makoto Kakebayashi held here on Wednesday.

Qamar said in order to curtail the smuggling of diesel to the neighboring countries, the subsidies on certain petroleum products would be reduced gradually.

Pakistani workers remittances have gone up to $6.5 billion as compared to the previous year's figure of $5.5 billion, he informed. The minister also directed the Board of Investment (BOI) to work together with the Pak-Japan Business Forum in knuckling down to study to find out the impediments being faced by the investors in general and the Japanese investors, in particular. A workable report should also be prepared in the light of this study suggesting remedial measures to remove all sort of hindrances and bottlenecks and all-out efforts should be made to encourage the Japanese business sector to enhance operations and investment in the country, he added.

For more on this article, please click on the following link: Japan offers to install 500MW power plants: The News