ISLAMABAD, Nov 13: Pakistan has offered to set up a special economic zone in south of the country for Japanese companies.

The offer was extended by Planning Commission deputy-chairman Salman Faruqui to Japanese Ambassador Chihiro Atsumi during their meeting here on Thursday. Mr Faruqui said Pakistan was already establishing such facility for China in Lahore and was willing to do so for Japan in the south of the country, probably in Karachi.

The ambassador welcomed the proposal and said that the Japanese companies working in the country had a very good perception about doing business in Pakistan and were willing to enhance their investment.

He said that Japan was providing assistance of $500 million for a number of development projects in Pakistan for the current year.

The ambassador was briefed on a wide range of business and investment opportunities for Japanese investors in Pakistan such as energy, agriculture, and infrastructure development projects.

He was informed that Pakistan needed financial assistance for mega projects like Bhasha Dam and mass transit projects in the same fashion as Japan assisted Pakistan in constructing Ghazi Brotha project and Indus Highway. Both the projects were funded by Japan.

The ambassador expressed his interest in assisting Pakistan in development work in Fata.

He said Japan was already providing financial assistance in education and health sectors in Fata and was willing to extend this cooperation in other areas as well.

The deputy-chairman informed the ambassador that Japan could help Pakistan in construction of dams in Fata. The ambassador assured to consider the proposal.

From Planning Commission, Pervez Butt, M. E. Tasneem, and Akram Malik, Members Energy, Agriculture, and Infrastructure respectively, briefed the ambassador on key areas of mutual cooperation. —APP