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Comprehensive financial business plan prepared for Pakistan Steel: National Assembly informed

Islamabad: The National Assembly (NA) was informed that a comprehensive five year financial business plan has been prepared for Pakistan Steel.

Parliamentary Secretary for Production Dr. Mehreen Razzaq Bhutto told the House during question hour that the plan includes a bailout package of 20 billion rupees and issuance of sovereign guarantee of six billion rupees by the Finance Ministry.

She said under indigenization process Pakistan Steel has used local iron ore worth three billion rupees and it has successfully managed to substitute import of manganese ore. Parliamentary Secretary for Industries Syed Haider Ali Shah informed the House that steps have been taken to ensure supply of gas and electricity to Export Processing Zones.

Export Investment Support Fund worth forty billion rupees has been set up and SME Credit Guarantee Fund and Venture Capital Fund worth ten billion rupees each have been established. To another question the Parliamentary Secretary said 68680 cars were manufactured in the country during July to December last year.

For more information, contact:
Karamat Hussain Niazi
Secretary
National Assembly of Pakistan
Parliament House, Islamabad
Tel: +9251 922 1082 -83
Fax: +9251 922 1106

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