Finance Senator Mohammad Ishaq Dar held a meeting with Mr Ijima, Vice President of Japan Bank for International Cooperation (JBIC) at JBIC Headquarters today and discussed with him possibility of financing Japanese companies that are interested in investing in Pakistan. He informed that his visit would have been incomplete without a meeting at JBIC and dilated upon the economic performance of the past nineteen months, including five successful IMF reviews under the Extended Fund Facility Program.
Finance Minister stated that Pakistan's economy was undergoing a transformation, especially in the infrastructure and industry sector and hoped that the Japanese businessmen would avail the opportunity of good returns to their investments. He informed Mr Ijima of the positive response of the Japanese businessmen to the Pakistan Investment Seminar organized by the Japan External Trade Organization (JETRO), as well as the JETRO plans to establish a 800 square metres Japan pavilion at the Expo Pakistan being organized in Karachi in end February. This, he said, was proof that many new companies and businesses were looking to do business with Pakistan, some of whom may require financing.
The JBIC Vice President welcomed the Finance Minister and stated that it was JBIC's responsibility to support Japanese companies that invested abroad. He opined that proper information about investment and business opportunities in Pakistan was lacking. Therefore, he said, the JETRO organized Pakistan Investment Seminar was a good step to gain insight into Pakistan's economy. He said that Pakistan, being a developing economy, needed concessional loans and assured that as Pakistan's economy took-off more and more Japanese companies would be interested in Pakistan.
Mr Ijima informed the Finance Minister that JBC financed Japanese companies on need basis and had no cap on financing in a particular country. He assured that JBIC would study in-depth the economy of Pakistan so as to be ready for financing any Japanese company that may approach it.
The meeting was also attended by Chairman Board of Investment, Ambassador of Pakistan in Tokyo and other officials.