Govt to search strategic partner for Pakistan Steel Mills: Jatoi | Pakistan Today

Govt to search strategic partner for Pakistan Steel Mills: Jatoi

Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi Monday said that we have to produce engineers, scientists, doctors and experts in different fields to compete with the world and to earn maximum foreign exchange for the country.

Laying the foundation stone of a new block in NFC institute of Engineering and Terchnology on Monday, Jatoi said the government is committed to curbing poverty and unemployment through development of small and medium enterprises.

Vice Chancellor of the institute Dr Akhtar Hussain Karloo and Engineer Nasrullah Khan Babur registrar were also present there. He said that exports could be enhanced through SMEs’ promotion.

Murtaza Jatoi said that the government would search for a strategic partner for Pakistan Steel Mills and its management would be handed over to the partner after 30 per cent share-transfer.

The government has recently announced an Auto Policy to bring new auto industry in Pakistan, with more incentives on 600 to 800 CC cars making them affordable for the lower middle income group, he added.

The federal minister said smaller cars were cheaper in India, so Pakistan has also discussed with new upcoming auto industrialists to design low cost cars here as well. He said his ministry would also recommend that industrialists in export processing zone be allowed to keep 30 percent production and export 70 percent under duty free raw material, which was currently set at 20 and 80 percent export basis.

Yamaha was not given permission during the five and a half years before this government, but the issue was resolved within four months after this regime came in power, and the company brought $150 million investment to Pakistan. Similar investment is being expended by Suzuki in Pakistan.

Power and gas issues would be resolved by 2018 and we will have surplus energy available at lower rates, he said, while lamenting how the previous government did not make strong enough efforts to address the energy crisis. Jatoi said only 60 kilometres of the Iran-Pakistan gas pipeline was pending for construction.

After the construction of that line and the gas line with Turkmenistan, the issue of gas would come to an end. Talking about China-Pakistan Economic Corridor (CPEC) he said it would help develop 100-acre export processing zone in Gwadar which will benefit Karachi as well.

Jatoi said that Turkey had also assured transfer of knowledge, experience and technology to strengthen the small & Medium Enterprises All these projects will be executed through SMEDA.

The minister emphasized the need of bilateral cooperation and trade. Pakistan and Turkey have huge potential of bilateral trade, he said.



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