Russia shows keen interest for investment in steel sector
By Adnan Rafique

ISLAMABAD—Federal Minister for Industries, Production and Special Initiatives Jahangir Khan Tareen has said that government of Pakistan would encourage foreign investment in steel manufacturing sector to meet present and future demand of steel and engineering industries.
He stated this while talking to a ten-member Russian delegation representing MMK steel group who called on him here on Wednesday.
Minister said that there was a tremendous scope for the investment in steel sector due to rapid demand of steel products.” As a rapid growth, the gap between supply and demand has widened which provide great opportunity for foreign entrepreneurs and investors in steel sector,” he added.
Minister maintained that government had chalked out a comprehensive strategy for the development of the steel and engineering sector. He said that one more steel mill should be established to meet the domestic needs of the steel and government would encourage the private sector in this regard.
Acknowledging an importance of the of steel sector in the development of the industries in the country, secretary Industries, production and Special Initiatives Suleman Ghani said that government was encouraging private sector and privatization process of the Pakistan Steel Mills was underway. The procedure for bidding would be transparent and local and foreign investors would be welcomed in this regard.
The Russian delegation showed keen interest in the purchase of Pakistan Steel Mills and Director General of MMK group Rafaat S Pakhaupinov briefed the minister about their capability and experiences in steel sector.
He expressed keen interest in the purchase of Pakistan Steel Mills with the aim to upgrade modernized the existing plant and its position, capacity and environment.