Caretaker Prime Minister Anwaar-ul-Haq Kakar has asked the companies associated with the steel industry to prioritize investment for development of new iron ore deposits in the country.

He was talking to a delegation of Pakistan Association of Large Steel Producers led by Senator Nauman Wazir in Islamabad today.

The Prime Minister said the caretaker government within its short tenure, took all possible measures to restore the economy of Pakistan.

He said the government has taken steps to create conducive environment for business by providing facilities to the private and business sector to increase the country’s exports, tax revenue employment opportunities.

The Prime Minister said all steps taken under the Special Investment Facilitation Council are yielding positive results.

He said the business community and investors supported Pakistan in difficult times.

The Prime Minister directed the relevant departments to resolve all issues related to the steel industry on priority basis.

The steel producers’
delegation appreciated the efforts of the caretaker government to facilitate investment in the country especially by resolving problems of industrialists and reforming the FBR.

They especially lauded the steps to prevent smuggling of steel, due to which the country’s industry benefited greatly.

Discussing problems faced by the industry, the delegation also presented some proposals and suggestions in this regard.

The meeting was briefed about the large-scale industry of steel and copper in Pakistan which recorded copper exports worth 1.35 billion dollars in the last financial year.

The meeting was told that there is a vast potential for development in steel sector of the country as its annual per capita consumption is 40 kilograms and contributes a tax revenue of 400 billion rupees to the national economy. It also provides thousands of employment opportunities.

Source: Radio Pakistan