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

Justice for judges
Updated 30 Jul 2021

Justice for judges

It beggars belief that a senior high court judge is incompetent to serve in the Supreme Court.
Follow the child
30 Jul 2021

Follow the child

Observe the child and give her space to explore her own instincts.
Cost of neoliberalism
30 Jul 2021

Cost of neoliberalism

Our mental health crisis must be seen in the larger sociopolitical context.

Editorial

30 Jul 2021

Judge’s elevation

A CONTROVERSY roiling the legal fraternity for a few weeks has come to a head. It was precipitated by the Judicial...
PTI’s Sialkot win
30 Jul 2021

PTI’s Sialkot win

The PML-N’s internal duality is a particularly acute factor that is dragging down the party in electoral contests.
30 Jul 2021

Attack on Chinese

AN attack targeting two Chinese nationals in Karachi on Wednesday should put the security apparatus on alert in ...
29 Jul 2021

Saudi FM’s visit

THE Saudi-Pakistan relationship is decades old and has weathered a number of geopolitical storms. Of late, ties came...
29 Jul 2021

SBP’s high hopes

THE June spike in the current account deficit notwithstanding, the State Bank doesn’t look too worried about the...
Joy and sadness on K2
Updated 29 Jul 2021

Joy and sadness on K2

Pakistan’s mountains have a commercial value that remains untapped.