Economic ties: Japan to give $19m to secure seaports, save energy

Yamaha to start motorcycle production by end of April.

ISLAMABAD: While Chinese companies are helping Pakistan combat the energy crisis, the Japanese government will provide a grant of $19 million for two projects aimed at improving security at seaports and saving energy in the water supply system.

The agreements for the Detailed Design Portion of the Project for Energy Saving in Water Supply System in Lahore and the Project for Security Improvement at Karachi Port and Port Qasim were signed by Economic Affairs Division (EAD) Secretary Muhammad Saleem Sethi and Japanese Ambassador Hiroshi Inomata in the presence of Finance Minister Mohammad Ishaq Dar.

The agreements covering details of implementation of the projects were signed by Japan International Cooperation Agency (JICA) chief representative Mitsuyoshi Kawasaki and EAD Joint Secretary Syed Mujtaba Hussain. The projects would be implemented through the Japanese agency.

Speaking on the occasion, Finance Minister Ishaq Dar said Pakistan was looking forward to enhancing bilateral economic cooperation with Japan.

He thanked the Japanese government for the projects, saying this would help strengthen the relations between the two countries.

The minister said Yamaha – a Japanese motorcycle company – would start its motorcycle production in Pakistan by the end of April and this cooperation would also bring the two countries closer on the economic and trade front.

The project for energy saving in the water supply system in Lahore will contribute to energy savings in water supply facilities. APP

Published in The Express Tribune, January 29^th,  2015.

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