SIGNING OF EXCHANGE OF NOTES AND GRANT AGREEMENT FOR TWO JAPANESE GRANT PROJECTS
Government of Japan has extended a grant of Yen 1,934,000,000 (US$ 19 million) to the Government of Pakistan for the two projects titled (i) Security Improvement in Port Karachi & Port Bin Qasim and (ii) Energy Saving in Water Supply System in Lahore.
The official notes for the grants were exchanged today on 28th January 2015 in the Finance Division. Mr. Muhammad Saleem Sethi, Secretary Economic Affairs Division and H.E. Mr. Hiroshi Inomata, the Ambassador of Japan signed the Exchange of Notes on behalf of their Governments. Grant Agreement was also signed by Mr. Mitsuyoshi Kawasaki, Chief Representative, JICA Pakistan Office and Syed Mujtaba Hussain, Joint Secretary of Economic Affairs Division.
i) SECURITY IMPROVEMENT IN PORT KARACHI & PORT BIN QASIM (Yen 1,877,000,000) (US$ 18 million)
The grant will be utilized to install the three units of Gentle Type X-ray Inspection System and Mobile Type X-ray Inspection System which would not only expedite customs procedures and clearance but it would also be a source of competitive advantage to the ports by becoming preferred access channel to international market for local and regional exporters with increased security environment. Simultaneously, it would also bring dividends to the national trade and industry.
ii) ENERGY SAVING IN WATER SUPPLY SYSTEM IN LAHORE (Yen 57,000,000) (US$ 0.55 million)
The grant will be utilized to reduce the huge electricity expenditures by using solar energy and to improve the service delivery level by replacing old, outdated and inefficient machinery under the project.
Secretary, Economic Affairs Division while appreciating the Japanese support for the two projects expressed Government of Pakistan’s commitment to further strengthen development cooperation between the two countries.