May 7, 2003	Wednesday	Rabi-ul-Awwal 4, 1424

ISLAMABAD, May 6: Finance Minister, Shaukat Aziz in a meeting with Shun Imaizumi, Chairman Pak-Japan Association who called on him this afternoon, emphasized on enhanced yen credit for increasing Japanese investment in Pakistan through financing mega projects such as Indus Highway, Gwadar Port and Coastal Highway.

He said that remaining 453km of Indus Highway connecting Karachi with Peshawar could even further increase Japanese economic cooperation with Pakistan, especially in construction machinery.

The project when completed would reduce travelling distance between the two cities by 350km and trigger economic development.

He said Japanese yen credit was desirable in view of macro-economic improvement achieved by Pakistan, its improved international credit rating, current account surplus, increased development spending which will increase growth and stabilize economic recovery and increase confidence of international donors and investors in the economy and financial management of the country.

The two sides also discussed tourism potential offered by the Northern Areas. It was noted that Japanese grant of $300 million was being efficiently utilized for completing over twenty projects in the pipelines during the current financial year.—APP