The ex-Chairman, Pakistan Steel Linepipe Industry Association (PSPA), Malik Tariq Mahmood has said that the foreign investment in the country is need of the hour but due to unsatisfactory law and order situation and political instability in the country, foreign investor are reluctant to invest.
He said that steel industry was at the verge of disaster and the main reason for it was the unannounced electricity load shedding. If the industries continued to remain close this way, unmanageable storm of protest will start in the country and the government would not able to withstand it
He further said that a huge amount of foreign exchange could be earned form the export of steel linepope, but the Custom Department had been creating too many hurdles. The ex-PSPA Chairman further said that these problems would be brought in the knowledge of the Central Board of Revenue (CBR) authorities.