F.P. Report
KARACHI: Federal Minister for Commerce, Industry, and Production, Dr. Gohar Ijaz, emphasized the pivotal role of responsible legal actions in the restoration of Pakistan Steel Mills.
The session in Karachi, centered around the Trade Development Authority of Pakistan (TADAP) and Pakistan Steel Mills, provided insights into the factors contributing to the decline and closure of the steel mills.
During the discussion, the Federal Minister underscored the significance of audits spanning from 1982 to 2023. By closely examining the Performance Indicators (KPI) of Pakistan Steel Mills, the government and the State-Owned Enterprises Investment Committee (SIFC) can play a crucial role in the revival process through their responsible legal interventions.
In a related development, the caretaker government made the strategic decision to remove Pakistan Steel Mills from the Conjugation List, signaling a shift in approach towards addressing the challenges faced by the steel industry.
Additionally, officials from TADAP, led by Chief Executive Zubair Motiwala, extended an invitation to the Federal Minister to attend the upcoming “Fourth Pak-Africa Trade Development Conference (PATDC)” and Single Country Exhibition (SEC) scheduled to take place in Cairo, Egypt next month.
The fourth edition of PATDC and SEC is expected to attract participation from major economies in the Middle East and North Africa (MENA) region, including Jordan, Qatar, Saudi Arabia, Algeria, Burkina Faso, Mali, and Mauritania. Over 100 Pakistani business owners and entrepreneurs are slated to form a delegation to Cairo, actively engaging in the exhibition and fostering trade ties with diverse international partners.
As the efforts to rejuvenate Pakistan Steel Mills gain momentum, the emphasis on responsible legal actions and strategic international collaborations becomes increasingly vital for the revival and sustainability of the steel industry in the country. (INP)
