Ejaz charts growth path for steel industry

Reaffirms commitment to removing obstacles hindering growth

ISLAMABAD:

A delegation from the steel industry, led by Zaigham Adil Rizvi, CEO of National Steel, met with Federal Minister for Commerce, Industries & Production, Dr Gohar Ejaz at the commerce ministry today. The objective of this meeting was to address and resolve obstacles hindering the growth of Pakistan’s steel sector, a crucial element of the nation's industrial landscape.

Ejaz reaffirmed his commitment to supporting the steel industry and fostering its growth during the meeting. He declared, “I will assist you in finding market-based solutions to your challenges.” The minister emphasised the importance of sourcing raw materials locally to reduce the financial burden on the national treasury and promote self-reliance within the steel industry.

Ejaz also stressed the necessity of value addition across all sectors and outlined plans to enhance the competitiveness of Pakistan’s exports. “We will ensure that our exports are highly competitive and concentrate on industries where Pakistan holds a comparative advantage,” he stated. Furthermore, he pledged to explore new export markets to stimulate growth within the steel sector.

A significant highlight of the meeting was the commitment to promote business-to-business (B2B) trade within the steel sector. He assured the delegation that facilitating growth through B2B interactions with other countries would eliminate the need for subsidies or preferential taxation, thereby fostering self-sustained growth.

Representatives from the steel industry underlined the importance of affordable energy for their operations. Ejaz responded positively, assuring the delegation of his close collaboration with the Minister for Energy to effectively address this concern.

Published in The Express Tribune, September 28^th, 2023.

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