ISLAMABAD: The Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi met with the Ambassador of Germany in Pakistan H E Ina Lepel in Islamabad. The minister formally welcomed the ambassador who has been recently appointed in Islamabad.
The automobile industry was discussed in the meeting and the Ambassador deliberated over the promotion of German auto companies with the minister. Consequently, industrial parks were brought up as the minister explained how these parks enable foreign investors to avail certain incentives and relaxed taxation while setting up a company within Pakistan. The minister said that industries for new technology can be set up anywhere in Pakistan and are not bound to such industrial parks.
Additionally, the minister apprised Lepel of how efforts are underway to enhance standards of living for the lower strata. In that regard the Ministry of Industries and Production uses subsidies to make food products more affordable to the masses through the network of stores of The Utility Stores Corporation (USC) of Pakistan.
Over how the government wishes to limit expenditure over state-owned corporations, Jatoi brought up Pakistan Steel Mill (PSM) and how privatisation was expected to enable the company to finally stand on its own feet. The minister also informed Lepel of the role of the Heavy Mechanical Complex (HMC), Taxila. Lepel questioned the role of Chinese investment, in response to which the minister explained how the Chinese are looking to revamp and up-grade HMC and PSM.
Published in The Express Tribune, October 4th, 2015.
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