The founder members of Pakistan Iron & Steel Institute (PISI) in a meeting on Tuesday reviewed progress of first-ever institute being set up on public-private partnership.
The founder members also announced their contribution worth Rs 1 million each for the institute while the government has already announced an equal amount of matching grant for this project.
Chief Executive Engineering Development Board, Imtiaz Rastgar, presided over the meeting that decided to expedite the completion of formalities and directed that draft articles and memorandum of institute should be finalised till the next meeting scheduled in first week of October.
It may be recalled that Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen in August 2005 in a workshop on steel sector had advised the industry to have a world class steel research and development institute. Since then the industry was striving to have the institute on ground. Engineering Development Board was assisting the founder members for establishment of the institute.
There were 10 founder member industries for institute represented by Director FSL Group of companies, Ilyas Aziz Malik, MD, Al-Hamza Ship Breaking Company, M. Ishaq Paracha, Chairman, IFC Group of companies, Mirza Muhammad Yusuf Baig, Chairman, Al-Shafi Steel, Mian Muhammad Javed Shafi, Director, Ittehad Steel, Shaban Khalid, Director, Star Cotton Corp, Muhammad Ismail Ibrahim, MD, Pak Steel, Re-rolling Mills, Mian Muhammad Aslam Fareed, Director, Magna Steel, M.M. Abdullah, Chairman, Mughal Steel, Javed Iqbal Mughal, and Director, Amreli Steel, Abbas Ali.
Earlier, addressing the meeting, Imtiaz Rastgar underlined the importance of steel sector in development of the country. He added that the industry was facing severe shortage of skilled manpower and the establishment of the institute will go a long way to meet the demand of the industry. He reiterated the support of the Board for development of steel industry in the country and its linkages with world supply chain.
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