Japanese Firms Interested to Invest in The Steel Industry of Pakistan – Research Snipers

Japanese Firms Interested to Invest in The Steel Industry of Pakistan

steel industry

Abdul Razak Dawood—the Advisor to Prime Minister on Commerce, Textile and Industries informed that the representatives of major Japanese firms would be visiting Pakistan in January and would be making an investment in the steel industry and baby formula milk industries.

While speaking at a press conference, Dawood said that a positive development occurred during talks about bilateral trade between the two nations which was held in Japan in the month of November, wherein significant Japanese firms gave assurance of investment in Pakistan.

He said that the Japanese firms that are involved in the manufacturing of steel and baby formula milk are visiting Pakistan. The delegation comprising of Japanese investors would be visiting Pakistan after the 15th of January.

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The minister said that the government of Japan has also given assurance of allotting skill development and technology development funds for small industries in Pakistan.

He also informed that talks on a change in the independent trade agreement with Malaysia would also be conducted in January, whereas the projects under the initial phases of China Pakistan Economic Corridor would be finished in the span of next 10-12 months.

While giving comments on the gas shortfall situation in the country, Dawood said that the issue would soon be resolved, and assured that the gas supply to the fertilizer units would not be suspended.

He also said that the country had abundance in urea fertilizer, whereas 100,000 tons of imported urea fertilizer has also reached the nation.

The Prime Minister’s advisor said that the industrial policy structure would be drafted this month, while a 5-year textile policy was also being prepared.

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