British firms have workable plans for PSM rehabilitation

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ISLAMABAD - British High Commissioner in Pakistan Adam Thomson has said that British companies have workable plans for the rehabilitation of Pakistan Steel Mills (PSM). He also said that Pakistan is an attractive market for investors in the region and there is a need to positively project the image of the country to allay the misperceptions and fears of the investors.

Adam Thomson said this while meeting with Federal Minister for Industries Ghulam Murtaza Jatoi and discussed issues related to investment in industrial sector and the revival of under-performing industrial units in the country. Both also deliberated upon ways and means to boost bilateral trade and augment investment in different industrial sectors of Pakistan.

The High Commissioner also talked about smuggling and counterfeiting of tobacco products and said that such illegal practices are not only harming the British companies but also the Pakistan government. The federal minister assured the High Commissioner that he would take up the issue at appropriate forum.

Discussing the potential to enhance mutual trade, federal minister said that there is a need to enhance cooperation between the two countries to capitalize on the enormous business opportunities and tap the unexplored investment possibilities. The minister said that Pakistan is an emerging market and a developing country with a very vibrant middle class, which is a suitable ingredient for foreign investment. He urged on the British investors to invest in Pakistan as Pakistan provides one of the best investment prospects in the region. He assured that Pakistan would provide every possible facility to the British investors.

Jatoi also said that he had accepted the challenge of revitalization of Pakistan Steel Mills and various plans are under discussion to put this loss-making entity on a profitable path. For this purpose, Pakistan is looking forward to and will appreciate workable and ingenious proposals from renowned international investors, he added.

Talking about the similarities between the two countries, the minister said that the two countries share commonalities in law, history and entrepreneurial growth and the huge Pakistani Diaspora living and working in England makes it greatly possible for the two countries to become strong business partners.

Courtesy: The Nation

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