Pakistan Steel Mills Not Going Private
Pakistan would not have been born
Pakistan Beat Australia, a Match PTV Did Not Show
God's not in His heaven, all's wrong with Pakistan
Pakistan Not Honest in Fight Against Terrorism
The Federal Industries and Production Ministry has made hectic efforts to remove the Pakistan Steel Mills (PSM) from the privatization list. In a press conference, federal minister Manzoor Ahmad Wattoo told about the government’s plans for raising PSM’s production capacity by more than twofold, i.e. from less than 1.5 million tones to 3 million tones.
Mr. Wattoo told the press conference that the Pakistan Steel Mills spent 25 billion rupees, last year, to import raw materials. This year, however, the government has plans for making use of indigenous raw materials, especially iron ore and coal, in order to save foreign exchange reserves. These raw materials are abundantly found in the rural and hilly terrains of NWFP and Baluchistan. Incentives will be provided at the localities, where these reserves are mined, by building schools and colleges, and providing health facilities to the local populations.
The federal minister also spoke about a number of other government plans for increasing domestic production and reducing import costs. To provide the general public daily life necessities at affordable prices, another 1500 Utility Stores have been opened in the country in the last five months, including those in remote and rural areas. Mr. Wattoo admitted the shortage of urea in the country, attributing it mainly to smuggling and hoarding. He said that strict action would be taken against people involved in such acts.
