Islamabad: A delegation of a German company interested in the upgradation and expansion of Iron Ore Coal Berth at Bin Qasim met Federal Minister for Industries & Production, Ghulam Murtaza Jatoi and gave him detailed briefing on their proposal.
The delegation informed the Minister that their company is interested in the management, rehabilitation, maintenance and repair of the jetty at Bin Qasim and is planning to invest $40 million over a period of 5 years initially. The investment will increase the offloading capacity at the berth and shorten the supply time from berth to the Steel Mills which will eventually reduce the cost of imported coal substantially.
While talking to the delegation, the Minister commented that the present government is making determined endeavours to bring foreign investment to Pakistan; therefore, every proposal is welcomed and thoroughly discussed.
He further said that to augment foreign investment, the government is removing every hurdle which has kept the foreign investors at bay in the past. This facilitation will boost the confidence of international investor and they will prefer to invest in Pakistan rather than investing in other countries in the region, he added.
The Minister said the government enjoys due credibility and its intentions are clear which is attracting foreign investors. The Minister constituted a committee to look into the proposal of the German company in detail and furnish its report as soon as possible.