News
Russian company keen to invest in Pakistan
ISLAMABAD Nov 08 : Mr V F Rashnikov Chairman, Board of Directors of Magnitogorsk, Iron & Steel Works, Russia called on Prime Minister Shaukat Aziz at PM House yesterday.
He expressed feelings of sympathy for the quake victims and discussed his company’s plans to invest in Pakistan. Talking to the Russian delegation Prime Minister Shaukat Aziz said as a result of the government’s policies during the last five years the economy has significantly stabilized.
The investment friendly policies of the government have encouraged the international companies to invest in many sectors in Pakistan and the level of foreign and domestic investments have substantially improved. He said deregulation, liberalization and privatization are the three pillars of our reforms.
The Prime Minister said the government has provided an enabling environment to private sector to help it to play an effective role in the development process. He said the privatization programme launched by the government is being implemented successful and satisfactorily. Talking about the privatization of Pakistan Steel Mills, the prime Minister said the steel mill meets only 20% of domestic needs.
In addition to this the market is expanding and there is a need and scope for expansion, input substitution and products diversification. This, however, requires more investment, said the Prime Minister.
Shaukat Aziz said government is in the process of finalizing the process for the privatization of Steel Mills will be done through a transparent process of open bidding.
The V F Rashnikov showed a keen interest to invest in Pakistan. V F Rashnikov said the economic stability achieved by Pakistan and the investor friendly policies of government have restored the confidence of the investors.