KARACHI: Federal Minister of Industry and Production Makhdum Khusro Bakhtyar said on Friday that a comprehensive steel policy would be announced soon with active consultation of steel sector stakeholders for which a team of two members had been nominated by the Pakistan Association of Large Steel Producers. (PALSP).

Mr. Bakhtyar expressed these views as he chaired a consultative meeting on the country’s steel policy with leading steel industry tycoons at the office of the Pakistan Industrial Development Corporation (PIDC). He was accompanied by the CEO of PIDC, Rizwan Bhatti.

He said that once the policy is finalized, it will help the government solve any problems faced by owners of the steel industry.

Suggestions from all stakeholders sought

He asked them to provide all kinds of support to the development of the overall policy, as the suggestions of all stakeholders would be incorporated into the policy.

The minister further informed industrialists involved in steel production that the federal government plans to develop approximately 7,500 acres of land in the Pakistan Steel Mills area as special economic zones based on clusters through IPDC. .

He asked the steel industry participants to jointly explore the establishment of a captive power plant in this project to meet their energy needs at possibly lower cost.

“The first phase of the upcoming 1,500-acre project, for which the government has allocated PSDP funding of Rs 7 billion, will allow government land to be allocated at a low initial cost to industries, with the remaining payments to be made. be made in 5 to 7 years in easy installments on a pay-per-view model, ”said the Minister.

The meeting was informed that with the current economic growth Pakistan would need 30 million tonnes of long and flat steel products over the next five years.

In addition, various aspects of the tariff structure, cost of land and energy needs of the sector were also discussed during the meeting.

Representing the Pakistani Association of Large Steel Producers, Abbas Akbar Ali stressed the need for a policy of at least 10 years so that the sector can invest with confidence.

Speaking on the occasion, the federal minister said the government had taken note of the slow colonization of special economic zones in the country and found that most developers were unable to meet the energy needs of industry, which stifled the growth of industrialization in their areas for decades.

The PTI government, he said, first stepped in to provide PSDP funding for SEZ energy supply projects and has allocated Rs 22 billion for SEZ energy projects since 2019.

The CEO of IPDC said that since the release of government funding for the network, NIP has received many award requests.

He said that in the last week alone, the SEZ committee awarded 14 applicants 70-acre land with a planned investment of Rs 13 billion and 3,700 new job opportunities.

He also said that in accordance with the federal government’s SME policy, in order to accommodate small businesses, 100 acres of land in Bin Qasim Industrial Park (BQIP) had been allocated for plots of one kanal and more.

Later, Mr. Bakhtyar was joined by Sindh Governor Imran Ismail at IPDC in a virtual groundbreaking ceremony of the federally funded 132KV network for Bin Qasim Industrial Park (BQIP) for the Special Economic Zone developed by National Parks Development and Management Company (NIP), a subsidiary of IPDC.

Samsung mobile factory

Mr. Bakhtyar, also visited the head office of Lucky Cement on Friday.

The Lucky group of companies are setting up a Samsung mobile device manufacturing plant in Bin Qasim Industrial Park, which is expected to be completed by the end of next month.

The minister assured the Lucky Group leadership that he would discuss any issues that the Lucky Group has encountered in connection with Samsung Mobile Device Factory within the Department and the Federal Board of Revenue and that he will try to resolve them before the factory does not start production.

Lucky Cement CEO Muhammad Ali Tabba and the Lucky Motor Corporation team were on hand for the occasion.

Posted in Dawn, le 16 October 2021


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