ISLAMABAD: Finance Minister Senator Ishaq Dar on Monday assured top officials of Yamaha motor company of Japan that its case of setting up a motorcycle plant near Karachi would be taken up at the next meeting of Economic Coordination Committee (ECC) to resolve all issues leading to installation of the plant without further delay.

Managing Director of Yamaha Motor company Ito Yasushi called on Senator Ishaq Dar and apprised him of the difficulties being faced by him to set up the plant in Pakistan. Yamaha planned to start production from its plant from 2015.

Mr Yasushi informed Mr Dar that he had been running from pillar to post for the last four years to install the Yamaha motor-cycle plant, and it was only recently the process of setting up the plant has picked up with the present government coming into power. The finance minister regretted the delay, and said his government is committed to facilitate foreign investment in the country and would ensure that a smooth process was laid out to facilitate investment in the country.

Only three days ago, the acting ambassador of Japan, Akira Kono held a meeting with BoI Chairman, Mohammad Zubair, and discussed issues relating to Japanese investors, particularly the Yahama plant issue.

The Japanese envoy showed his concern on security issues and the problems being faced by the existing Japanese investors and new potential investors in Pakistan.

The Japanese motorised vehicle-producing company is in full gear to set up its sales and manufacturing subsidiary in Pakistan with an investment of $150 million.

The state-of-the-art plant will be spread over 50 acres at the National Industrial Park near Bin Qasim where motorcycles with engine capacity of 100cc and above would be manufactured.

Yamaha aims to achieve high ratio of localization in manufacturing, starting from 25 per cent since the first day of commercial production up to 85 per cent in five years.

The annual production of motorcycles in Pakistan is around 1.8 million, almost all the domestic models.