YAMAHA a Japanese auto company would invest $150 Million to establish manufacturing plant of Motorcycles in Pakistan. This was revealed at a meeting by visiting three-member delegation of Yamaha comprising Sumioka Ryouichi, Executive Officer, ITO Yasushi General Manager and Highuchi Yakeshi Senior Manager who called on Chairman Board of Investment, Saleem Mandviwalla here on Tuesday. Later talking to the media Chairman BOI informed that M/s Yamaha Japan has approached Board of Investment through our mission in Japan with the proposal to manufacture Yamaha Motorcycle in Pakistan. He said that M/s YAMAHA would like to invest $150 Million to establish their manufacturing facility of world renowned motorcycles in National Industrial Park, Bin Qasim, Karachi by acquiring 50 acres of land.
The motorcycle manufacturer will have EFI engine, automatic transmission, water cool & environment friendly exhaust system meeting European standard in this plant. “It will not only meet the demand of Pakistani market but will also enable them to export their models to various CIS countries. The Chairman BOI informed that keeping in view the current fuel and energy situation in Pakistan, Yahama will produce state of the art motorcycles with less fuel consumption of Rs10 per 30min drive which covers the distance of 40-50km. He stated that President of Pakistan during his visit to Japan on also held meeting with Yamaha officials and ensured that government has framed the rules and procedure for the foreign investors in the auto sector.
The BOI is working to frame a policy rest on production of high technology products with environment and consumer satisfying features. The Board of Investment being facilitator of investments in the country strongly feels that the New Entrant Policy of Automobile should focus on considerable interest of important international auto manufacturers in Pakistan market and to meet the local demand and supply gap of various sectors.
Recognizing that the existing assemblers/manufacturers of vehicles have over the years developed many parts and components locally and the factor that auto industry is yet heavily import dependent for various materials and components, with marginal exports, an import duty exemption of 5 years will support to increase the company’s marginal profits in some extend till 2020, said by Mr. Sumioka Ryouichi. He further added that the Yamaha investment in Pakistan will create 45,000 jobs for locals and with the transfer of technology in manufacturing of motorcycle, vendor skill capability and capacity will also be developed with exclusive training institutes being run by the company.