Govt committed to support steel industry: Federal Minister Gohar

Govt-committed-to-support-steel-industry_-Federal-Minister-Gohar

ISLAMABAD – A delegation from the steel industry, led by Zaigham Adil Rizvi, the CEO of National Steel, recently met with Dr Gohar Ejaz, the Federal Minister for Commerce, Industries & Production, to discuss and resolve obstacles hindering the growth of the steel sector in Pakistan. The meeting emphasized the importance of promoting self-reliance, value addition, and competitiveness within the industry.

Minister Dr. Gohar Ejaz expressed his commitment to supporting the steel industry and ensuring its growth. He assured the delegation that he would help find marketplace solutions for their problems. He emphasized the significance of sourcing raw materials locally to reduce the financial burden on the country and promote self-sufficiency in the steel industry.

Additionally, Dr Ejaz outlined plans to enhance Pakistan’s exports by making them more competitive and focusing on industries where the country has a comparative advantage. He also pledged to explore new export markets to foster growth within the steel industry. One important highlight of the meeting was the commitment to promote business-to-business (B2B) trade within the steel sector, which would eliminate the need for subsidies or preferential taxation, thus fostering self-sustained growth.

The steel industry representatives highlighted the need for affordable energy for their operations. Minister Dr. Ejaz responded positively, assuring the delegation of his collaboration with the minister for energy to effectively address this concern. The commerce minister also discussed the possibility of imposing tariffs on imported steel products to safeguard the local industry, indicating a willingness to explore this option.

Dr. Ejaz firmly stated that the steel industry and other sectors in Pakistan should rely on indigenous raw materials for growth, aligning with the government’s vision of self-sufficiency and economic growth.

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