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Chinese, Russian companies keen to revive Pakistan Steel Mills, PM told PM directs officials to foll

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Chinese, Russian companies keen to revive Pakistan Steel Mills, PM told
PM directs officials to follow investment models of regional counties

By
Staff Report
-
September 17, 2019
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ISLAMABAD: Prime Minister Imran Khan was informed on Tuesday that Chinese and Russian companies were taking a keen interest in the restoration of Pakistan Steel Mills.

The PM was presiding over a high-level meeting on investment in the industrial sector.

The meeting was briefed that the special economic zones in Pakistan hold great potential to attract investments, particularly from Chinese companies. It was also apprised that China has shown interest in various Pakistani products, imports of which would significantly improve the balance of trade between the two countries.

Speaking on the occasion, PM Imran said that the government would provide all possible facilities to investors so as to ensure ‘ease of doing business’ in the country.

He directed the officials concerned to provide basic utilities like electricity, gas and road access to the special economic zones on a priority basis. “There should be no hurdle or problem for investors in these economic zones.”

PM Imran further directed the authorities to follow the investment models of the regional counties.

The meeting was attended by Economic Affairs Minister Muhammad Hammad Azhar, Planning Minister Makhdoom Khusro Bakhtiar, Power Minister Omar Ayub Khan, Adviser to PM on Commerce Abdul Razak Dawood, Special Assistant to PM on Information Dr Firdous Ashiq Awan, Board of Investment Chairman Syed Zubair Haider Gilani as well as federal secretaries of finance, foreign affairs and planning divisions.

Earlier on Sept 11, PM Imran Khan had ordered the completion of SEZs at the earliest.

He had maintained that the SEZs would create business opportunities and help boost economic activities in the country.

CPEC ON PRIORITY LIST

Meanwhile, PM Imran Khan and Chinese Ambassador to Pakistan Yao Jing on Tuesday decided to complete multi-billion-dollar China Pakistan Economic Corridor projects at the earliest.

Talking to the Chinese envoy, PM Imran said that the CPEC framework was the most import project, as it would bring progress and prosperity to Pakistan.

The PM reaffirmed Pakistan’s commitment to further strengthening the all-weather strategic partnership with China.

The Chinese ambassador conveyed the best wishes of President Xi Jinping to Imran Khan on his forthcoming birthday.

The prime minister asked the ambassador to convey his thanks to the Chinese president.

Earlier on September 14, expressing satisfaction on implementation of CPEC projects, Prime Minister Imran Khan had said the corridor would transform national and regional economy.

“CPEC is not only a reflection of Pak-China friendship but it will have positive impact on national and regional economy,” PM Khan had stated while chairing a meeting of government’s economic team in Islamabad.
 
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Corrupt mafia relay on two things,
1) Media
2) Moulana Fazulur Rahman.
They are waiting for the last move from Moulana. If government decide to put Moulana Fazulur rahman in jail, corrupt mafia will do plea bargain.
 
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What was the problem of Imran Khan, when Arab investors made offer to buy it... back in Musharraf time? or may i say U turn!
 
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What about Semi-Privatization?Give administration to private sector. Govt. will have a limited say in decisions but will get share of the profit instead of just taxes.
 
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What was the problem of Imran Khan, when Arab investors made offer to buy it... back in Musharraf time? or may i say U turn!
There was no Arab investor.It was Indian Mittal via Shoukat Aziz. But privatization was actually stopped by CJ Iftikhar.Ch.He was getting instruction from MNS.
 
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How many times was it revived in the past too? the solution is fire at least half of the incompetent and political hirings sucking it's blood.
 
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I think the machinery in the Steel Mills is outdated and inefficient. Keep in mind technology in every sector has improved in leaps and bounds while the technology and process used in the SM will still be stuck in the decades ago bygone era.

Need massive investment from some foreign firm to turn this into a profitable business, also if the mill has a private owner his only concern will be to turn a profit. While a government organization will be used as an employment agency with no vision of earning revenue/profit.
 
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I think the machinery in the Steel Mills is outdated and inefficient. Keep in mind technology in every sector has improved in leaps and bounds while the technology and process used in the SM will still be stuck in the decades ago bygone era.

Need massive investment from some foreign firm to turn this into a profitable business, also if the mill has a private owner his only concern will be to turn a profit. While a government organization will be used as an employment agency with no vision of earning revenue/profit.
I think IK really wants to revive these White Elephants. He is even staying at Roosevolt Hotel which has been untouched since Zardari era.
 
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