Japan to Extend 500 Million Yen Grant to National Textile University Faisalabad

Arif Qureshi

Islamabad: Mr. MATSUDA Kuninori, Ambassador of Japan to Pakistan, said that his country committed to continues to support Pakistan in its efforts to maximize its potential in the areas with comparative advantages such as textile industry. He expressed these views while signings ceremony at Economic Affairs Division Islamabad on Thursday.

Dr. Syed Pervaiz Abbas, Secretary, Economic Affairs Division and  Mr. MATSUDA Kuninori, Ambassador of Japan, signed the Exchange of Notes, Record of Discussions and Agreed Minutes on Procedural Details on behalf of their Governments.

Government of Japan has extended grant assistance in the form of equipments for National Textile University, Faisalabad worth Japanese Yen 500 million to the Government of Pakistan under The Economic and Social Development Programme. The official notes for the grants were exchanged  in the Economic Affairs Division on Thursday.

In the signing ceremony, Secretary EAD expressed that Pakistan values close and friendly relations with Japan and cherishes shared views on a whole range of regional and international issues that exist between the two partners. Japanese economic cooperation is greatly valued and welcomed as it has played and continues to play a vital role in the socio economic uplift of Pakistan.

Federal Secretary also highlighted that the grant assistance in the form of equipments for the National Textile University is well timed keeping in view the needs of textile industry of Pakistan, for which we are thankful to the Government of Japan. The textile sector in Pakistan has an overwhelming impact on economy, contributing 55% to the country’s exports.

Dr. Syed Pervaiz appreciated the Government and people of Japan for their support with the assurance of extending all necessary facilitation for more meaningful cooperation between the two sides in future.

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