TOKYO/ ISLAMABAD - Japan has expressed its readiness to provide Yen 100 billion (approximately $850 million) loan for Lakhra Power Project.

This was stated by Minoru Kiuchi, State Minister for Foreign Affairs, during meeting with Finance Minsiter Senator Ishaq Dar here on Friday.

Rounding up his 3-day hectic visit to Japan, Finance Minister Ishaq Dar met with Yoichi Miyazawa, Minister for Economy, Trade and Investment. It was decided that the next Joint Business Dialogue, delayed for the last two years, will take place in Pakistan in May 2015.

Toyota Group during meeting with the Finance Minister said it is considering further investments in Pakistan.

In meeting with delegation of Yamaha, it was announced that the inauguration of Yamaha Motorcycle Plant in Pakistan will take place in April 2015.

During meetings with the senior political leadership of Japan, it was confirmed that the Japanese Prime Minister would visit Pakistan at the earliest possible, mutually convenient time.

The finance minister also extended an invitation to Japanese Minister to either visit Pakistan for the Joint Business Dialogue or at some mutually convenient time later in the year. He briefed Miyazawa about the salient features of Pakistan’s economic turnaround and stated that Pakistan wanted to expand trade and investment relations with Japan.

He said that Pakistan was looking for special economic zones to be established by Japanese entrepreneurs in Pakistan. Dar also referred to the disadvantage faced by Pakistani textiles in Japan in terms of stiffer tariffs as compared with similar products from competitor countries and argued that, given Pakistan’s extraordinary current situation, Japan should consider some special concessions to Pakistan’s textile products.

Miyazawa said that Japan fully understood Pakistan’s challenges and informed that Toyota Group was considering further investments in Pakistan. He said that there was an increased interest in Pakistan amongst Japanese companies.

The meeting was also attended by Chairman, Board of Investment, Ambassador of Pakistan in Tokyo and other senior officials.