20000226'Japan to make up $ 1.5bn loss by sanctions if CTBT signed'

RECORDER REPORT

ISLAMABAD: Japanese Ambassador Minoru Kubota said on Friday that Japan would make up for nearly $ 1.5 billion dollars which Pakistan did not receive since 1998 because of sanctions, if the country signed CTBT.

Talking informally to Business Recorder at a function for the Japanese business companies in Pakistan, he said Japan had been providing, on average, $ 500 million assistance per annum which had been lost because of the economic measures introduced as required by Japanese ODA guidelines.

Once Pakistan signed the CTBT, Japan would resume normal assistance in a big way. Its tangible results would appear in four to five months' time and the people would feel the difference, he said.

Earlier Japanese Association of Commerce and Industry held its annual meeting in Islamabad.

He said at a press conference that Pakistan's adherence to CTBT ,consistency and transparency in policies, and resolution of row with IPPs would go a long way to increase direct foreign investment and in resumption of ODA to Pakistan. The press was told that ODA always preceded private investors since it is usually directed towards infrastructure needed for investment. "The investors feel easy where ODA goes."

He said that at the embassy they had a full-fledged study on the pros and cons of Pakistan's adherence to CTBT, examining the social, economic political and diplomatic implications for Pakistan. While there may be justification for not signing the CTBT, their conclusion was that signing would bring about "enormous economic gains to Pakistan". These would benefit the common people and change the economic conditions.

He said that the leaders needed courage to take bold decisions. He said that many a time he urged the former prime minister, Nawaz Sharif, to sign the CTBT which he had committed at the UN General Assembly. The Ambassador was of the view that had Pakistan signed the treaty, the country's economic conditions would have been entirely different from present.

He stressed that Japan was a friend of Pakistan and had no ulterior motives. He further stated that he also discussed CTBT with Qazi Hussain Ahmed whom he found to be "very intelligent". He has also invited Qazi Sahib for a visit to Japan.