ISLAMABAD: Katsunobu Kato, Minister of State of Japan, has said that Pakistan’s positive reviews in its IMF programme are encouraging for Japan to resume Yen loans and his country would continue assistance towards the settlement of IDPs, eradication of polio, floods mitigation and the fight against terrorism.
Kato stated this here on Wednesday in Tokyo during a meeting with visiting Finance Minister Senator Muhammad Ishaq Dar on behalf of the Japanese prime minister in the Prime Minister’s Office, says a press release.
Kato welcomed Dar on behalf of the government of Japan and extended appreciation to the efforts undertaken by Prime Minister Nawaz Sharif towards the uplift of the economy and improvement of security in Pakistan.
He said that Prime Minister Abe’s administration will continue to work with and support Prime Minister Sharif in the areas of economy, security, democracy and rule of law. He also offered his condolences on the loss of precious lives in the Peshawar terrorist attack of December 16, 2014.
Kato recalled the summit meeting between the two prime ministers held in New York on September 26, 2013 and the desire expressed by both leaders on the occasion to develop a ‘New Partnership’. Kato added that both countries will deepen bilateral relations and cooperation at the international arena.
Kato stated that Pakistan’s positive reviews in its IMF programme are encouraging for Japan to resume Yen loans. He added that Japan would continue assistance towards settlement of IDPs, eradication of polio, floods mitigation and in the fight against terrorism.
Dar conveyed greetings from the Prime Minister Sharif to Prime Minister Abe, reiterating the invitation for a bilateral visit to Pakistan. He congratulated the Liberal Democratic Party on its victory in the recently held general elections.
Dar underlined the efforts of the Prime Minister Sharif to promote peace and friendship in the region and noted with satisfaction the existing level of trust and coordination with political and military leadership in Afghanistan.On relations with India, Dar regretted that Prime Minister Nawaz Sharif’s sincere overtures for peaceful and cooperative relations with India have not received the appropriate response.
The finance minister broached the immense human and material losses accrued to Pakistan from the ongoing war against terrorism. Underlined the challenging circumstances. He explained the strides the government has taken towards revival of Pakistan’s economy, noting with satisfaction that the improved fiscal and financial forecasts has put the economy back on track, restored confidence of IFIs and regional financial institutions.
The finance minister expressed the desire to further deepening bilateral political relations and trade with Japan stating that Japan has historically been a close friend.He also addressed Japanese businessmen at an investment seminar organised by Japan External Trade Organisation (JETRO) and co-sponsored by Board of Investment.
“Huge potential exists to further strengthen economic ties between Pakistan and Japan as Pakistan offers a big market for investment in energy, automobile, textile, surgical equipment, infrastructure, engineering, agriculture and SMEs,” he said.
The minister said Pakistan also needed Japanese technical assistance and investment in renewable energy sources such as solar, wind, thermal and biogas. He hoped the Japanese companies would tap the potential and explore some of these areas for their future investments.
Pakistan, he said, was an upcoming emerging market and many multi-national enterprises had made profits in recent years. This had encouraged other enterprises to expand their investments in Pakistan.
Dar said the World Bank had projected that the investment growth rate in Pakistan, which declined for several years in the past, would rise during 2014-16. He said Pakistan had one of the most liberal foreign investment regimes in South Asia. Hundred percent foreign equity was permitted in the manufacture and infrastructure sectors as the country had a market-oriented economy, with a rapidly growing private sector, he said.
He said Pakistan had a very dynamic market and a large consumer base. There was great potential in the power, infrastructure and natural resource sectors, he said. There was also scope for investment in hydel and coal based power projects, he added.
Referring to cordial bilateral relations between Pakistan and Japan, which have grown significantly over the years, he said Japan’s economic assistance had helped much in the development of Pakistan’s economic and social infrastructure.
Dar said though Japanese auto sector accounted for about 95 percent in the four-wheeled vehicle market and had a great positive influence on Pakistan’s economy but bilateral trade volume between Pakistan and Japan had been stagnant for the past five years.
“It is also heavily in favour of Japan which needs to be addressed through initiating negotiations for Early Harvest Programme of Free Trade Agreement (FTA),” he added.The minister said there was a need for world-class education system and mechanisation of industries that, if exploited efficiently, could generate wealth for foreign investors.
He said Pakistan stood on the verge of a momentous transformation. “Our government is fully committed to harnessing economy through appropriate policies and strategic vision,” he said.The government, he said, had a long term development plan aimed at creating a globally competitive and prosperous country, with particular emphasis on achieving macroeconomic stability through inclusive growth.
Dar said the government attached top priority to enhance the performance of the economy for a better Pakistan. Improved infrastructure, good governance, uninterrupted and affordable energy, quality education and health for all were some of the priority areas, which were being focused.
He mentioned other important achievements of the government, including raising of US $2 billion through Eurobond after seven years, raising of US $1 billion through International Sukuk after nine years and successful auction of 3G-4G licenses to raise nearly US $1.2 billion. Two more 3G-4G licences were still available for auction.
There had been resumption of programme lending by World Bank and ADB, which had enabled Pakistan to access some US $1.5 billion from these institutions during the year, he added. He also hinted at the construction of a terminal at Port Qasim to import LNG.
The minister said the PML-N government would welcome the initiative of establishing Japan Specific Economic Zones and facilitate the establishment of entrepreneurship in all respects. He assured the Japanese investors that the government would extend every possible help and facilitation to materialise the investment initiatives. He directed the Board of Investment to facilitate the investors and take every possible initiative to facilitate the Japanese investors.
Over 250 Japanese businessmen, besides Hiroyuki Ishige, Chairman JETRO, Miftah Ismail, Chairman Board of Investment and Pakistan Embassy officials in Tokyo, attended the seminar.Finance Minister Senator Ishaq Dar also met Katsunobu Kato, Deputy Chief of Cabinet in Tokyo and exchanged views on bilateral relations, economic avenues of cooperation between Pakistan and Japan.
Earlier Japan-Pakistan Parliamentarians Friendship League led by President JPPFL, Seishiro Eto, Member of Lower House, hosted lunch in honour of the finance minister and members of Pakistani delegation.
Other members of JPPFL, Koichiro Genba (former FM), Midori Matsushima (former justice minister), Member Lower House, were also present.Dar also held meeting with Hiroyuki Ishige, Chairman JETRO.
Earlier while talking to PML-N workers who had come to welcome him and later talking to media men, Dar said the government was working on the agenda of steering the country out of economic morass and transforming it into a developed country.
He stated that Japan had always stood with Pakistan in trying time and now government will focus on enhancing trade rather than aid during talks with Japan.He held that Pakistan wanted to bolster trade cooperation with Japan and Pakistanis living in Japan are asset of PML-N. He urged PML-N workers in Japan to strengthen the party with forging unity in their ranks.
Japan set to resume yen loan for Pakistan - thenews.com.pk
Kato stated this here on Wednesday in Tokyo during a meeting with visiting Finance Minister Senator Muhammad Ishaq Dar on behalf of the Japanese prime minister in the Prime Minister’s Office, says a press release.
Kato welcomed Dar on behalf of the government of Japan and extended appreciation to the efforts undertaken by Prime Minister Nawaz Sharif towards the uplift of the economy and improvement of security in Pakistan.
He said that Prime Minister Abe’s administration will continue to work with and support Prime Minister Sharif in the areas of economy, security, democracy and rule of law. He also offered his condolences on the loss of precious lives in the Peshawar terrorist attack of December 16, 2014.
Kato recalled the summit meeting between the two prime ministers held in New York on September 26, 2013 and the desire expressed by both leaders on the occasion to develop a ‘New Partnership’. Kato added that both countries will deepen bilateral relations and cooperation at the international arena.
Kato stated that Pakistan’s positive reviews in its IMF programme are encouraging for Japan to resume Yen loans. He added that Japan would continue assistance towards settlement of IDPs, eradication of polio, floods mitigation and in the fight against terrorism.
Dar conveyed greetings from the Prime Minister Sharif to Prime Minister Abe, reiterating the invitation for a bilateral visit to Pakistan. He congratulated the Liberal Democratic Party on its victory in the recently held general elections.
Dar underlined the efforts of the Prime Minister Sharif to promote peace and friendship in the region and noted with satisfaction the existing level of trust and coordination with political and military leadership in Afghanistan.On relations with India, Dar regretted that Prime Minister Nawaz Sharif’s sincere overtures for peaceful and cooperative relations with India have not received the appropriate response.
The finance minister broached the immense human and material losses accrued to Pakistan from the ongoing war against terrorism. Underlined the challenging circumstances. He explained the strides the government has taken towards revival of Pakistan’s economy, noting with satisfaction that the improved fiscal and financial forecasts has put the economy back on track, restored confidence of IFIs and regional financial institutions.
The finance minister expressed the desire to further deepening bilateral political relations and trade with Japan stating that Japan has historically been a close friend.He also addressed Japanese businessmen at an investment seminar organised by Japan External Trade Organisation (JETRO) and co-sponsored by Board of Investment.
“Huge potential exists to further strengthen economic ties between Pakistan and Japan as Pakistan offers a big market for investment in energy, automobile, textile, surgical equipment, infrastructure, engineering, agriculture and SMEs,” he said.
The minister said Pakistan also needed Japanese technical assistance and investment in renewable energy sources such as solar, wind, thermal and biogas. He hoped the Japanese companies would tap the potential and explore some of these areas for their future investments.
Pakistan, he said, was an upcoming emerging market and many multi-national enterprises had made profits in recent years. This had encouraged other enterprises to expand their investments in Pakistan.
Dar said the World Bank had projected that the investment growth rate in Pakistan, which declined for several years in the past, would rise during 2014-16. He said Pakistan had one of the most liberal foreign investment regimes in South Asia. Hundred percent foreign equity was permitted in the manufacture and infrastructure sectors as the country had a market-oriented economy, with a rapidly growing private sector, he said.
He said Pakistan had a very dynamic market and a large consumer base. There was great potential in the power, infrastructure and natural resource sectors, he said. There was also scope for investment in hydel and coal based power projects, he added.
Referring to cordial bilateral relations between Pakistan and Japan, which have grown significantly over the years, he said Japan’s economic assistance had helped much in the development of Pakistan’s economic and social infrastructure.
Dar said though Japanese auto sector accounted for about 95 percent in the four-wheeled vehicle market and had a great positive influence on Pakistan’s economy but bilateral trade volume between Pakistan and Japan had been stagnant for the past five years.
“It is also heavily in favour of Japan which needs to be addressed through initiating negotiations for Early Harvest Programme of Free Trade Agreement (FTA),” he added.The minister said there was a need for world-class education system and mechanisation of industries that, if exploited efficiently, could generate wealth for foreign investors.
He said Pakistan stood on the verge of a momentous transformation. “Our government is fully committed to harnessing economy through appropriate policies and strategic vision,” he said.The government, he said, had a long term development plan aimed at creating a globally competitive and prosperous country, with particular emphasis on achieving macroeconomic stability through inclusive growth.
Dar said the government attached top priority to enhance the performance of the economy for a better Pakistan. Improved infrastructure, good governance, uninterrupted and affordable energy, quality education and health for all were some of the priority areas, which were being focused.
He mentioned other important achievements of the government, including raising of US $2 billion through Eurobond after seven years, raising of US $1 billion through International Sukuk after nine years and successful auction of 3G-4G licenses to raise nearly US $1.2 billion. Two more 3G-4G licences were still available for auction.
There had been resumption of programme lending by World Bank and ADB, which had enabled Pakistan to access some US $1.5 billion from these institutions during the year, he added. He also hinted at the construction of a terminal at Port Qasim to import LNG.
The minister said the PML-N government would welcome the initiative of establishing Japan Specific Economic Zones and facilitate the establishment of entrepreneurship in all respects. He assured the Japanese investors that the government would extend every possible help and facilitation to materialise the investment initiatives. He directed the Board of Investment to facilitate the investors and take every possible initiative to facilitate the Japanese investors.
Over 250 Japanese businessmen, besides Hiroyuki Ishige, Chairman JETRO, Miftah Ismail, Chairman Board of Investment and Pakistan Embassy officials in Tokyo, attended the seminar.Finance Minister Senator Ishaq Dar also met Katsunobu Kato, Deputy Chief of Cabinet in Tokyo and exchanged views on bilateral relations, economic avenues of cooperation between Pakistan and Japan.
Earlier Japan-Pakistan Parliamentarians Friendship League led by President JPPFL, Seishiro Eto, Member of Lower House, hosted lunch in honour of the finance minister and members of Pakistani delegation.
Other members of JPPFL, Koichiro Genba (former FM), Midori Matsushima (former justice minister), Member Lower House, were also present.Dar also held meeting with Hiroyuki Ishige, Chairman JETRO.
Earlier while talking to PML-N workers who had come to welcome him and later talking to media men, Dar said the government was working on the agenda of steering the country out of economic morass and transforming it into a developed country.
He stated that Japan had always stood with Pakistan in trying time and now government will focus on enhancing trade rather than aid during talks with Japan.He held that Pakistan wanted to bolster trade cooperation with Japan and Pakistanis living in Japan are asset of PML-N. He urged PML-N workers in Japan to strengthen the party with forging unity in their ranks.
Japan set to resume yen loan for Pakistan - thenews.com.pk
