Frequent changes in policies discourage investment in Pakistan:Japanese Consul General

 

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Karachi (Cliff News)More Japanese companies are interested
to invest in Pakistan in different sectors but are hesitant to because of frequent changes in investment and trade policies especially about taxation and tariffs.Continuity of economic policies is must to attract investors,especially foreign ones. The policies should sustain at least for ten years.Investors come with their long-term business plans and it becomes very disturbing for them in Pakistan when new taxes are suddenly levied or the existing ones are increased, Consul General of
Japan in Karachi Toshikazu Isomura said.He was talking to a group of journalists after inaugurating a mango
festival here at Beach Luxury Hotel.
The Japanese Government and the investors were also seriously
watching political developments in Pakistan and expected political
stability  after the scheduled general elections, which is vital for
sustained economic activities.
He informed that eighty three Japanese companies were operating
in Pakistan including  Toyota and Suzuki Motor companies. Of these
more thirty companies were in Karachi. Japanese dry milk producing
company Morinaga was setting up its plant in Punjab.He said that in Pakistan the yearly demand for vehicles was around 0.3 million. Of these, 0.2 million were being produced in Pakistan and
0.1 million were imported from Japan.   Whereas, Iran had big vehicle
market with around 0.9 million vehicles annual demand.To a question that the quality of cars being assembled in
Pakistan using Japanese spare parts did not match with those imported
from Japan, he said that more demand for vehicles in a country brings
better auto manufacturing or assembling companies/facilities leading
to better quality products at lower price.Japanese Consul General said his country could supply buses to
Pakistan for Green Line Bus project  in Karachi at lower price.  In
addition, he said, Pakistan would get spare parts and service for
these buses at low cost.To another  question, he said it was not Japan but Sindh Government which abandoned Karachi Circular Railway project to be executed under the umbrella of Japan International Cooperation Agency (JICA), which coordinates official development assistance.”Without informing us, former Sindh chief minister Syed MuradAli Shah announced to include KCR project in China-Pakistan Economic
Corridor,” he explained.Japanese Consul General praised Pakistani mangoes’ taste especially of Sindhri and Caunsa.
“Pakistani Sindhri and Chaunsa had big demand in Japan, “he remarked.Last year, 100 tones of Sindhri and Chaunsa were imported by Japan and this volume could  be increased to 500 tonnes if Pakistan government provided trade  incentives. Japan also imports good quantity of  mangoes from Iran. Pakistani mangoes could be their
better replacement, he said.Acting General Manager, Beach Luxury Hotel  Syed Kashif Rizvi,said that being king of fruits, mango has unique flavour, fragrance and health promoting qualities. It is widely used ingredient in different cuisines. With passage of time,
its use has tremendously increased. Earlier, mango was to be used as
dessert but now people do use it as starter, appetizer and main course, he said.

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