A three-member delegation of Yamaha led by its Executive Officer Sumioka Ryouichi held a meeting with Chairman of Board of Investment Saleem H. Mandviwalla here on Tuesday to review progress for setting up the plant for which Yamaha has acquired 50 acres of land in the National Industrial Park of Bin Qasim. — File Photo

 

ISLAMABAD: Japanese auto maker Yamaha, which is setting up a motorcycle manufacturing plant at Bin Qasim near Karachi at a cost of $150 million, has sought an exemption of five years on the import of material and components.

A three-member delegation of Yamaha led by its Executive Officer Sumioka Ryouichi held a meeting with Chairman of Board of Investment Saleem H. Mandviwalla here on Tuesday to review progress for setting up the plant for which Yamaha has acquired 50 acres of land in the National Industrial Park of Bin Qasim.

In support of its demand for five-year exemption, the Yamaha delegation explained that the existing assemblers and manufacturers of vehicles in Pakistan had over the years developed auto parts and components locally and that the auto industry was yet heavily import dependent for various materials and components, with marginal exports.

The exemption would help support Yamaha to increase company's marginal profits to some extent till year 2020, explained Sumioka Ryouichi.

He further said that the Yamaha investment in Pakistan would create 45,000 jobs for locals and with the transfer of technology in manufacturing of motorcycle, vendor skill capability and capacity would also be developed with exclusive training institutes being run by the company.

The BoI chairman speaking to newsmen after the meeting said that the board being facilitator of investments in the country.

Opinion

Fear and abuse
Updated 23 Jun 2021

Fear and abuse

Paedophiles and sexual abusers are present in many professions but clerical sexual abuse is of a particularly egregious character.
Diplomatic blundering
Updated 23 Jun 2021

Diplomatic blundering

Foreign policy is too serious a matter to be left to an individual’s political ambitions.
Loss of homes
22 Jun 2021

Loss of homes

For the vulnerable, a shelter is much more than a dwelling.

Editorial

PM’s views on rape
Updated 23 Jun 2021

PM’s views on rape

Rape is a crime primarily of power rather than lust, rooted in a contempt for others’ bodily integrity.
23 Jun 2021

Gas concerns

CONSUMERS face the prospect of ominous blackouts next month owing to the closure of two gas fields in Sindh, the ...
23 Jun 2021

New Iranian president

SAYYID Ebrahim Raisi, Iran’s new president, is taking over at a time of great geopolitical flux, while the Islamic...
Describing OBL
22 Jun 2021

Describing OBL

FM Qureshi’s non-committal reply to question about Osama being a terrorist or a martyr has sent the wrong message to the world.
22 Jun 2021

A neglected sector

THE PTI legislators joined forces with opposition lawmakers in the National Assembly the other day to take their own...
22 Jun 2021

Air safari

THE resumption of PIA’s air safari flights to Skardu will hopefully attract international and domestic tourists,...