Japan has agreed to extend to Pakistan a Non-Project Grant Aid (NPGA) of 500 million Japanese Yen (approximately $4.2 million for providing machinery and equipment for technical education and well drilling rigs made by Japanese Small and Medium Enterprises (SMEs). An agreement to this effect was signed between Hiroshi Inomata, Ambassador of Japan to Pakistan and Muhammad Saleem Sethi, Secretary of Economic Affairs Division (EAD) on May 14th in Islamabad.
It is expected that the grant will help the provincial governments of Khyber Pakhtunkhwa and Balochistan to procure machinery and equipment for technical education and vocational training centers and well drilling rigs respectively. Further details of the procurement will be determined between the Japanese and Pakistani counterparts. The NPGA is a type of Japan's grant which supports the promotion of socio-economic development efforts of Pakistan by providing foreign currency for the import of necessary goods and commodities.
The NPGA which has been agreed on Thursday will be utilized to import the Japanese SMEs' products mentioned above. Japanese SMEs have advanced unique and efficient technologies on which large firms often rely. The grant aims to make use of these technologies to meet development needs of Pakistan.
At the signing ceremony, Hiroshi Inomata, Ambassador of Japan to Pakistan said, "I believe that this NPGA provides valuable opportunities to make use of Japan's high-quality products to meet Pakistan's development needs. I hope that the provision of this NPGA will contribute to strengthening the bond of friendship between Japan and Pakistan."
In reply, Mr Muhammad Saleem Sethi, Secretary of Economic Affairs Division (EAD), reiterated his sincere gratitude for Japan's continuous commitment to socio-economic development in Pakistan.-PR