Japan and Pakistan to enhance economic ties

Islamabad:Japan’s Ambassador Extraordinary and Plenipotentiary to Pakistan Akamatsu Shuichi on Wednesday said his government’s commitment to working closely with Pakistani authorities to deepen friendly relations through better bilateral cooperation in various fields of economy.

The statement came during a ceremony at the Ministry of Economic Affairs that marked the signing of the Grant Agreement, Exchange of Notes and Record of Discussion between the governments of Pakistan and Japan.

The agreement pertains to an economic and social development programme aimed at installing smart water meters in Faisalabad to enhance the city's water supply system. Under the initiative, the government of Japan has approved a grant of JPY 510 million (approximately $3.5 million) through the Japan International Cooperation Agency. The project involves the installation of about 8,000 smart water meters, which are expected to improve water use efficiency, optimise distribution, support water conservation efforts and enhance the financial viability of WASA Faisalabad.

The programme supports Pakistan's broader goals of promoting sustainable urban development and is expected to serve as a model for similar initiatives in other cities. The notes was formally signed and exchanged by Secretary of the Ministry of Economic Affairs Dr Kazim Niaz and Japanese Ambassador Akamatsu Shuichi, representing their respective governments. Dr Niaz expressed gratitude to the Japanese government and people for their continued support and pledged full cooperation to ensure the project's successful implementation, emphasising the importance of deepening bilateral collaboration.