Apropos an article "Japan no longer considering investing: diplomat", carried by Business Recorder on 8th September, 2012, the embassy of Japan has clarified that "The article reports that "the government of Japan is no longer considering investment in ... revival of Karachi Circular Railway (KCR)", with its headline to the same effect.
However, the fact is that the Government of Japan is seriously considering financing the KCR project, although a final decision is yet to be taken. "The article reports that "according to [the diplomat], the Board of Investment ... `has no action plan''."
However, it is again contrary to the fact: with the help of a JICA (Japan International Co-operation Agency) expert, BoI already made an action plan to attract foreign investment. Paying full respect to the efforts of the Pakistani authorities to improve the investment climate, what we observe is that, although BoI had made an action plan, it was not necessarily widely shared across the Government of Pakistan.
"The Embassy of Japan has been taking active steps, all through this commemorative year of the 60th anniversary of our diplomatic relations, in order to enhance business relations between Japan and Pakistan. It is regrettable that the article does not accurately reflect these facts, which would cause a misunderstanding among readers of your highly respected paper on the status of economic relations between our countries," the clarification concludes.
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