Japanese Experts present study report on investment in Karachi
KARACHI: KMC Administrator Muhammad Hussain Syed said the Government of Japan and Japan International Cooperation Agency (JICA) had shown interest in investment in various Karachi Projects including the Circular Railway, Rapid Bus System, Infrastructure Development and Vehicle Manufacturing which would provide jobs opportunities to a large number of people.
He expressed these views while addressing a seminar held in a local hotel with the collaboration of Board of Investment and Japan International Cooperation Agency (JICA).
The other speakers on this Seminar included renowned industrialist Zubair Motiwala, Saleem H. Mandvi Wala, President PJPF Sohail Ahmed and Consul General of Japan Masaharou Sato.
A delegation comprising experts from Japan also attended the seminar and presented their study report on investment in Karachi.
The Administrator Karachi on this occasion said specific environment was needed for investment in any city or country.
If a country had its own sea ports, air roots and highways then it attracts investors to make rapid investment and avail the benefits of availability of raw material and good number of manpower for running any industry.
Karachi in this connection offers a very conducive environment for investment and it was counted among the countries where all such elements were easily available.
He said Pakistan was considered among the 12 countries which were expected to make rapid progress due to the growing possibilities of investment from other countries.
He also cited the examples of Malaysia, Mexico, Thailand and Turkey and said that Pakistan was also among such countries which could make rapid progress in the next ten years.
The Administrator Karachi said Germany, Malaysia, China, UAE, United States and some other countries have also shown huge interest in investing in various projects for Karachi.
The Rs 570 million worth Phase-I of Mehran Highway was completed with the cooperation of JICA and the Phase-II being started now.
He said that the study report for restoration of Circular Railway was also completed and it was expected that the Circular Railway Service would resume in Karachi by next September.
The Administrator Karachi said the KMC was working on the improvement of city’s infrastructure and work on the Corridor-V would begin after Eid-ul-Fitr.
With the construction of more underpasses and flyover at busiest intersections traffic flow would be improved and the citizens would get even better facilities in the coming days.
He said the people would get opportunities for livelihood with the investment in the city and it was a good omen that the JICA was providing full cooperation to KMC for Karachi Projects.