10 June 2004 05:21
Russia keen to invest in auto sector and expansion of PSM
ISLAMABAD, June 10: The Ambassador of Russian Federation in Pakistan, Eduard S. Shevchenko Thursday called on
Minister for Industries and Production, Liaquat Ali Jatoi here and discussed matters of mutual interest and ways to
enhance economic ties between the two countries including expansion of Pakistan Steel Mills. The Ambassador also
discussed Russian companies interest in auto sector to meet the demand by introducing small car for the common man and
manufacturing of tractors through joint venture project. He added that Russia is also willing to help in expansion of
2nd phase of Pakistan Steel Mills as a MOU has already been signed with Russia for expansion of Ist phase of Steel Mills
from I million to 1.5 million tonnes production per annum. The Minister welcomed proposals for investment in the auto
sector and said there is growing demand of automobiles in Pakistan and Russia can benefit from it. He also briefed him
about liberal investment policies of the government and stated Pakistan stands viable for investment as all economic
indicators are moving in the right direction. He said the manufacturing sector has crossed the growth of 14 per cent
which is a record. He also asked that Russian Companies should invest in various other sectors, Gwadar port and the
proposed textile city. Both sides stressed the need to enhance bilateral relations in all fields and to enhance economic
cooperation.
(THROUGH ASIA PULSE)
[Pakistan Press International Information Services Limited] |
RUSSIA IN FACTS
