The Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi met with Ambassador of Germany in Pakistan H.E. Ina Lepel at his residence in Islamabad today. The Minister formally welcomed the ambassador who has been recently appointed in Islamabad.
The Minister explained the role of the Ministry of Industries and Production in detail to the Ambassador and apprised her of how, through provincial decentralization, the provinces have significant control over their industries. The automobile industry was also discussed in the meeting and the Ambassador discussed the promotion of German auto companies with the Minister. Industrial Parks were also a topic of discussion as the Minister explained how they are necessary to give companies incentives and tax relaxation for foreign companies who want to set up industries within Pakistan. The Minister said that industries for new technology can be set up anywhere in Pakistan and are not bound to industrial parks.
The Minister also stressed how the Ministry of Industries and Production uses subsidies to make food products more affordable to the massed through the network of stores of The Utility Stores Corporation (USC) of Pakistan. The privatization of Pakistan Steel Mill (PSM) was also talked about and how it is essential for the corporation to get back on its feet. The Minister also informed of the role of the Heavy Mechanical Complex (HMC), Taxila that produces products related to the energy sector, defense and railway.
The Ambassador also asked the Minister about the Ministry’s role in skill development and entrepreneurship to which the Minister detailed the workings of Pakistan Industrial Development Corporation (PIDC), National Productivity Organization (NPO) and Small and Medium Enterprises Development Authority (SMEDA). The Minister detailed how skill development was an important agenda on the Ministry’s priorities and it uses its organizations to help reduce unemployment and, give opportunities and vocational training to the people of Pakistan. SMEDA plays its role by supplementing small and medium entrepreneurs and empowering them to grow through financial and administrative support.PREVIOUS NEXT