MD Pak Suzuki Motors calls on Finance Minister

ISLAMABAD: Managing Director of Pak Suzuki Motors Hirofumi Nagao Thursday called on the Finance Minister Senator Mohammad Ishaq Dar and discussed his company's plan of future investment in Pakistan.

The MD of Pak Suzuki Motors said his company was ready to invest US $460 million in Pakistan to set up a second plant.

After completion of formalities, the new project would be completed within a period of two years and would start production by the end 2018, he informed, a statement issued here by the Ministry of Finance said.

Finance minister asked the MD Pak Suzuki Motors to submit a complete plan with all the details to process the request in accordance with prescribed codal formalities/rules and procedures.

He said the government was committed to provide a level playing field to all the prospective investors.

The minister said Pakistan had been projected by Japan External Trade Organization (JETRO) as the second choicest place for investment in the world.

Dar said the turnaround of Pakistan's economy, macroeconomic stability, improvement of energy and security situation in the country had provided a conducive atmosphere for foreign direct investment.

He said a number of new entrants had shown keen interest to invest in automobile manufacturing sector as well.

The meeting was attended by senior officials of the ministry of finance and the members of the delegation of Pak-Suzuki Motors.