HMC seeks tie-up with private sector

MD says HMC products can find good markets in African, other countries

ISLAMABAD:

Heavy Mechanical Complex (HMC) is ready to enhance collaboration with the private sector to harness the potential of industry for the production of engineering products, said HMC Managing Director Engineer Zaheer Shah.

During his visit to the Islamabad Chamber of Commerce and Industry (ICCI), Shah said HMC was manufacturing high-value products including sugar and cement plants, oil and gas processing plants, hydropower plants, turbines, high-pressure boilers, cranes, overhead pedestrian bridges, steel structures and railway equipment.

He said the ICCI should collaborate in connecting domestic industries with HMC, which had the potential and capability to join hands with them in production activities.

Shah stated that HMC was also working to manufacture heavy-duty trucks for defence needs and would also explore the possibility of manufacturing commercial vehicles at a later stage. “Many of these products of HMC can find a good market in African and other countries,” he said, adding, “the ICCI should cooperate in exporting its products to potential markets.”

He stressed that Pakistan’s economic future was linked with industrialisation for which consistent policies were needed.

Speaking on the occasion, ICCI President Sardar Yasir Ilyas Khan appreciated the contribution of HMC to industrial development by manufacturing industrial plants and equipment.

He said Pakistan’s industrial sector had great potential to grow but the potential remained untapped and unexplored. Khan stressed that the government should focus on favourable policies and development of modern infrastructure to boost industrialisation. “High energy cost is a barrier to industrialisation and investment,” he said and urged the government to focus on cheap energy production so that industries could flourish.

He highlighted that China and many other countries had announced attractive relief packages for their industries to cushion the impact of Covid-19, and called on the government of Pakistan to consider deferring taxes and loans of industries and businesses till the issue of Covid-19 was resolved. “It will help them to survive and revive industrial and business activities.”

The ICCI chief asked HMC to share the list of exportable products and equipment so that the chamber could play a role in enhancing the exports.

Published in The Express Tribune, November 27^th, 2020.

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