Federal Minister for Commerce, Dr. Gohar Ejaz on Wednesday reiterated his commitment to support the steel industry and ensure its growth for industrial growth in the country.
Minister Dr. Gohar Ejaz firmly stated that the path forward for the steel industry and other sectors in Pakistan lies in relying on indigenous raw materials, which aligns with the government’s broader vision of self-sufficiency and economic growth, said a press release issued here. Zaigham Adil Rizvi, CEO of National Steel along with a delegation from the steel industry called on the Federal Minister for Commerce, Industries & Production, Dr. Gohar Ejaz at the Commerce Ministry.
The purpose of this meeting was to address and resolve impediments to the growth of the steel sector, a vital component of Pakistan’s industrial landscape.
In the context of safeguarding local industry, the Commerce Minister also discussed the possibility of tariffs on imported steel products, indicating a willingness to explore this option.
He stated, “I will help you find marketplace solutions for your problems.” The Minister stressed the importance of sourcing raw materials locally to reduce the financial burden on the national exchequer and promote self-reliance in the steel industry.
Dr. Ejaz further emphasized the need for value addition in all sectors and outlined plans to enhance the competitiveness of Pakistan’s exports. “We will make our exports highly competitive and focus on industries in which Pakistan has a comparative advantage,” he stated. Additionally, he pledged to explore new export markets to foster growth within the steel industry.
One noteworthy highlight of the meeting was the commitment to promote business-to-business (B2B) trade within the steel sector. Dr. Ejaz assured the delegation that facilitating growth through B2B interactions with other countries would eliminate the necessity for subsidies or preferential taxation, fostering self-sustained growth.
The representatives of the steel industry underscored the significance of affordable energy for their operations. Minister Dr. Ejaz responded positively, assuring the delegation of his close collaboration with the Minister for Energy to address this concern effectively.—APP
