Pakistan can mount economic growth by following Japanese model: Envoy

Sep 20, 2019: Deputy Chief of Mission Embassy of Japan, Yusuke Shindo has said that Pakistan could mount its economic growth by following the Japanese model, norms, and culture of education and development.

Delivering a lecture here at Gateway Institute of Superior Services, Shindo said success of Japan was due to culture of hard work, honesty, sincerity, patience, high education standard, high quality work, high rate of savings, and loyalty of employers with their companies.

He said Pakistan was transforming from its stabilization period therefore the government should not worry about the devaluation of its rupee.

Sharing the Japanese experience, he said that in 1971, the Japanese exchange rate was very high against dollar which was 360 Japanese Yen (JPY) per dollar while after gaining momentum of high growth rate, the exchange rate gradually improved and today it was around 110 JPY per dollar.

Shindo said in 1960s when Japan took loan from World Bank the exchange rate was very high and when it repaid the loans the exchange rate reduced by 40% which meant that Japan had to repay 40% less money.

Similarly, he said although Pakistan's debt had increased due to devaluation but the government should focus on its development as the higher and stable economic growth could only help improving the exchange rate.

He informed that harmony was the most important element of Japanese culture and Japanese people are friendly, unbiased, peaceful, caring, education lovers, and hardworking.

Shindo said Japan government was fully focused on the primary education to ensure 100% literacy rate in the country which was evident from the fact that back in 1972, Japan built over 24000 elementary schools in just three years. "In 1909 the enrollment rate in Japan was 98.1%".

"In our culture education is even more important for Japanese then eating food," he added.

The Deputy Chief of Mission also presented some videos and pictures of Japanese culture showing how the Japanese people love cleanliness and follow rules.

He said he had also served the Japanese government as a police officer for two and half years and during his tenure not a single murder case was reported.

He said in Japan, culture of higher study is not much preferred as what he said the best engineers of electronic company SONY and Auto company TOYOTA were only high school graduates.

He said the best companies of Japan hire people from high schools and they impart them technical training.

Further he said English was not also very much popular in Japan and most of the Japanese people love to speak their native language.

APP