Islamabad: Govt. to Support Setting up Steel Mills in Pakistan

The state minister and the chairperson of the BOI (Board of Investment), Dr. Miftah Ismail, has said that the govt. is motivating the private sector for setting up the industries specially of steel manufacturing in Pakistan

Dr. Miftah Ismail talked to a Chinese delegation related to the matter, that consisted of 4 members from the Jude Long Steel Power Group. China along with the Chief Executive Officer (CEO) M/s Amreli Steels Limited, Abbas Akbar Ali had visited the Board of Investment (BOI) and  had a meeting with the Minister of State & Chairperson, BOI.

The Chairperson has highlighted the investment potential and the opportunities that are available for the Chinese investors in Pakistan especially in the tower manufacturing sector of the country (Pakistan).

Chairperson, Board of Investment (BOI) stated that the laws have been tailored in order to safeguard & ensure the protection of investments. The foreign investment, however, is fully protected under Protection of Economic Reforms Act 1992 and Foreign Private Investment (Promotion and Protection) Act, 1976.

On this occasion, the Chief Executive Officer, M/s Amreli Steels Limited, Abbas Akbar Ali informed that the Amreli Steels Limited is among the largest manufacturers of the Steel Reinforcement Bars & is further intent to set up the plant for tower manufacturing in Pakistan.

In a meeting, he said that this project would create around 2000 jobs directly. However, he informed that there’re some complications that they are facing in order to set up their tower plant in Pakistan precisely procedural difficulties. MOS/Chairperson, BOI had assured them the full support from all who are concerned, including NTDC, M/O Water and Power.