Islamabad: Japanese Ambassador to Pakistan Matsuda Kuninori and Secretary of Economic Affairs Division Syed Pervaiz Abbas on Thursday signed an agreement to transfer a PKR 700 million (JPY 500 million) grant to the National Textile University (NTU) Faisalabad, a news source reported. As per the publication, these funds are geared towards improving the institute’s educational performance and facilities.
Reportedly, the grant will be utilised to buy sophisticated machinery and equipment, including Carbon Fiber Rapier Looms, an Electronic Flat Knitting Machine, and a Ring Spinning Machine for the NTU.
Previously, the Japanese government had shown interest in facilitating and assisting Pakistan’s economic progress through cooperation in the fields of information technology, water resource management, and agriculture. Some of the Japanese firms also expressed their interest in developing the Dhabeji Special Economic Zone (SEZ) project. Additionally, Japan has also taken steps to import Pakistani labours as interns under a programme sponsored by the International Monetary Fund (IMF).