KARACHI: Federal Finance Minister Ishaq Dar has inaugurated Yamaha Motor Pakistan (Private) Limited’s motorcycle assembly plant at Port Qasim Industrial Zone.
After inaugurating the assembly plant of the Japanese company, the minister said that government is going to form a task force to facilitate foreign investors, adding that the task force will help the investors set up an industry or start a business besides ensuring their security.
Federal Minister for Privatisation Muhammad Zubair Khan, State Bank of Pakistan (SBP) Governor Ashraf Mehmood Wathra, Karachi Stock Exchange Chairman Muneer Kamal, Japanese Ambassador to Pakistan Hiroshi Inomata, President of Yamaha Motor Company Limited, Managing Director, Yamaha Motor Pakistan (Private) Limited (YMPK), Yasushi were also present on the occasion.
Dar said that Yamaha Motor Company Limited, operating in Pakistan since 1975 with a local partner, had wound up from Pakistan in 2008. But, he continued, with effective pursuance and by introducing an attractive policy for auto industry, the present government succeeded in convincing the management of Yamaha Motor Company Limited to restart the company’s operations in Pakistan.
In 2013, the company reestablished its base independently here and formed Yamaha Motor Pakistan (Private) with 100 per cent equity, which led to launch of this new assembling factory.
The President of Yamaha Motor Limited gave account of his company having 60 years experience in auto industry and operating in 200 countries. The plant’s cost is Japanese yen 6.2 billion; which makes 5.3 billion Pakistan rupees. This is one of the biggest international investments in recent past.
Managing Director of Yamaha Motor Pakistan (Private), Yasushi Ito said the company has 100 per cent equity and has production capacity of 40,000 units in 2015. However, 30,000 units are expected to be produced this year.
