Japan to Assist Pakistan’s Auto Industry, Car Production will be enhanced
- Japan will help Pakistan’s automobile industry and enhance its domestic production.
- Chief Representative of Japan International Cooperation vowed to upgrade the automobile and textile industries of Pakistan.
- Pakistan’s business and investment environment have been upgraded and its global ranking improved.
The Japan International Cooperation Agency (JICA) is set to assist the automobile industry of Pakistan in enhancing its domestic production.
Japan will be helping Pakistan’s automobile industry from existing 200,000 vehicles and introduce new safety and environment-friendly features.
Meeting with Chief Representative of JICA:
This was announced by the Chief Representative of Japan International Cooperation Agency, Shigeki Furuta, during a meeting with Adviser to Prime Minister on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood.
The Chief Representative of headed a JICA delegation in the meeting that deliberated on upgrading the automobile and textile industries of Pakistan.
The meeting also discussed the better business climate and supporting activities of Japanese automobile companies; Suzuki, Toyota, and Honda in Pakistan, including the promotion of associated industries.
“JICA will assist Pakistan in developing necessary regulations for establishing inspection infrastructure for the testing of new and used vehicles for the safety of consumers,” the JICA Chief highlighted.
He assured the adviser to PM that Japan International Cooperation Agency would provide assistance for the economic development of Pakistan.
PM Aide Apprising the Delegates:
During the meeting, PM Adviser apprised the delegates that the Auto Industry Development Policy (2016-21) provided a uniform and consistent framework for the development of the auto industry in Pakistan. He also appraised them for offering opportunities for investment in the sector.
The PM Adviser informed the delegation about enormous investment opportunities in technology upgrading of the entire value chain of the textile sector which made them uncompetitive in the global market.
For this, PM Aide suggested that the Japanese government should create a fund, which could be used for the purchase of machinery by Pakistani textile manufacturers for a technology upgrade.
Pakistan had upgraded its business and investment environment and this is why its global ranking improved by 11 points in the Ease of Doing Business Index.
Pakistan has also launched Regulatory Guillotine, a program to reduce business regulations. With the help of this program, two to three regulations are being removed every month to streamline business activities, the Adviser highlighted.