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Top brass of the Commerce Ministry and the Board of Investment (BoI) appeared uncomfortable on Tuesday when JICA's Consultant said in the presence of visiting Japanese businessmen and investors that the security situation in Pakistan was seriously affecting foreigners. The Consultant, who is a Japanese national and working on a project related to empowerment of BoI, was giving a presentation in the Planning Commission's auditorium.
Acting Secretary, Commerce, Munir Qureshi, Secretary BoI Anjum Bashir and Japanese ambassador to Pakistan Hiroshi Oe were prominent among the participants. M Nagase, the JICA consultant, cited Toyota's example. The company, he said, had already forwarded a request to the government, calling for the introduction of a "smooth immigration process at airports" and setting up a "well organised airport lobby, as currently travellers have to wait in a long queue.
The company also urged the government to launch a crackdown on robbers and house breakers in residential areas, besides stressing the need for a stable power supply. It also urged the government to provide a "stable supply of safe to drink water". The company also urged the government to allow foreigners to live in accordance with the standard of their home countries.
According to the presentation Pakistan had signed Free Trade Agreements (FTAs) with Malaysia and Sri Lank, but not with any other country in the region. Japanese investors were also informed that there was no merit in favouring Pakistan in Asean. The presentation also recommended that Pakistan should expedite smooth landing for Most Favoured Nation (MFN) status with India and realise FTAs with Thailand and Indonesia. JICA appreciated the legalisation for setting up Special Economic Zones (SEZs), but stressed the need for improving them. The BoI was requested to expedite final enactment of SEZ Bill and seek enough funding for the zones in Karachi, in addition to launching of reinforced higher level marketing campaign for SEZ inside and outside in a systematic way with BoI.
The Ministry of Commerce and BoI, in separate presentations, gave details of sectors which needed investment. The Acting Secretary Commerce and the Secretary of BoI assured the visiting delegation that the government was making all out efforts to extend all possible facilities to investors.
The tour of the business and investment delegation was organised by the Embassy of Japan, its consulate-general in Karachi and Japan External Trade Organisation (Jetro). It aims to provide Japanese business people interested in doing business in Pakistan with a chance to gain firsthand knowledge of the actual situation in the country.
The delegation consists of representatives from a large number of Japanese companies. "One of the focuses of the government of Japan on the 60th anniversary of our diplomatic relations has been promoting trade with and investment in Pakistan," said Japanese ambassador to Pakistan.
According to him, Japan has organised several investment seminars in Singapore, Bangkok, Tokyo, Nagoya and Osaka earlier this year. Earlier this week, the delegation arrived in Karachi on October 6 this year and visited the Expo Pakistan and the National Industrial Park (NIP). They also had an opportunity to network with the members of Pakistan Business Council (PBC), the Pakistan Japan Business Forum (PJBF) and other major entrepreneurs.
After the visit to Islamabad, some members of the delegation will visit Sialkot and Lahore to see some of the leading Pakistani manufacturing companies on October 10-11. Meetings with Sialkot Chamber of Commerce and Industry and Punjab Board of Investment and Trade are also scheduled.

Copyright Business Recorder, 2012

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