Japan-based Pakistanis seek intermediary facility at Gwadar

LAHORE: The Pakistani expatriates in Japan have sought government help for establishment of intermediary facility at Gwadar Port for the re-export of Japan-made vehicles to the other parts of the world.

An eight-member delegation headed by Pakistan Association Japan President, Mr Behlum Shahzad Ali, said this while talking to LCCI President Shahid Hassan Sheikh here at Lahore Chamber of Commerce and Industry on Monday. Provincial Commerce & Investment Secretary Saeed Ahmad Alvi and LCCI Vice-President Mubasher Sheikh also spoke on the occasion. Shahzad Ali said that at the moment the whole business of used vehicles in being done in Dubai but Pakistanis in Japan want to make Gwadar a hub of such activity.

The delegates from Japan also showed a keen interest in making investment in petrochemicals and plastic raw materials, as Pakistan has no manufacturing facility in this sector so far. They were of the view that the government should also divert its attention towards law and order situation in the country, which is sending wrong signals abroad and coming in the way of direct foreign investment. “The land mafia in Pakistan is quite active to undo the efforts of the government which is taking all measures to convert it into an investment-friendly country. There is a need that the government should take all necessary steps to curb these evils once for all.”

Speaking on the occasion, LCCI President Shahid Hassan Sheikh briefed the delegation on investment scenario in Pakistan. He said that Pakistan is now on the road to economic stability and it needs a positive response of foreign investors to prove its worth as an attractive investment destination. He said development of Gwadar Deep Sea Port and industrial estates all over the country provide best possible infrastructural facilities to foreign investors. Road and rail linkages to neighboring countries are the added advantages, which cannot be ignored as far as global businesses are concerned. The LCCI President said that the trade between Pakistan and Japan needs more concerted efforts and this should be from both the sides. He said with the introduction of new investment policy, the foreign investors are allowed to hold 100 percent equity on industrial projects without any permission of the government. He said that it is high time for the foreign investors to take advantage of business-friendly policies of the present government.

Source: Daily Times