PM appreciates Yamaha plan for setting up state of art manufacturing
unit in Karachi

      ISLAMABAD, Aug 30 (APP): Prime Minister Raja Pervez Ashraf has
appreciated interest shown by Yamaha Motors Japan to establish a
motorcycle manufacturing facility in Karachi at a cost of US$ 150
million.
      Yamaha Motors will introduce latest technologies and create
job opportunities besides contributing revenue for the government.
      In a meeting with delegation of Yamaha Motors, Japan at the
Prime Minister House Thursday, the Prime Minister said that Yamaha
is a household name in Pakistan.
      The Prime Minister expressed the confidence that Yamaha plant
will be a success story and attract foreign investment in the country.
      He said that every second person in Pakistani village has a
motorcycle, therefore there is huge potential for motorcycle
industry in the country.
      The Prime Minister said Pakistan and Japan enjoy close
relations and this project will further strengthen these ties.
      The Prime Minister assured the delegation that government
would provide all facilities to the company in its endeavour to
expand its operations and introduce state of the art technologies.
      ITO Yasushi, General Manager, Yamaha Japan said that on
attaining full production capacity the project will attain
production of 45,000 units annually.
      ITO Yasushi, General Manager, Yamaha Japan informed the Prime
Minister about the intention of the company to further expand its
manufacturing units in Pakistan.
      He said with the setting up of Motorcycle Manufacturing
facility in Karachi with EFI, automatic transmission and European
standard exhaust system, the company will not only be the pioneer in
Pakistan but would also target the Middle East, Central Asian and
African Markets and contribute towards the country's exports.
      He said the company is planning to initially import the CKD
kits but would develop local capacity through a relationship with
local vendors.
      He also informed the Prime Minister that the company plans to
achieve indigenization of motorcycle manufacturing to 85% in 10
years which would enable the workforce to develop expertise in
manufacturing different parts of motorcycles.
      The delegation members thanked the Prime Minister for his
personal interest.
      They expressed the confidence that with the investment
friendly policies of the government more investors would explore the
automobile sector in Pakistan.
      Other members of delegation included General Managers of
Yamaha Japan Ishikawa Shigeru and SATO Hiroshi.
      The meeting was also attended by Chairman Board of Investment
Saleem H. Mandviwala and senior government officials.