ISLAMABAD: A high level Committee, headed by the Minister for Planning, Development and Special Initiatives Ahsan Iqbal has directed Ministry of Industries and Production (MoI&P) to share feasibility study and business plan to attract investors for setting up of new Steel Mills with Russian collaboration, well informed sources told Business Recorder.

These instructions were issued during the fourth meeting of the Committee, which is preparing a wish list to be discussed during a high level visit of Pakistani authorities to Moscow, the sources added.

Minister for PD&SI, sources said, has reiterated that there is a need to chalk out potential projects/ proposals to be undertaken with Russia either on G2G or B2B basis. Further, Minister for PD&SI/ Convener of the Committee showed displeasure at the absence of secretaries of various Ministries/ Divisions.

Different modules of trade, business with Russia under study

After detailed discussion, the following decision were taken: (i) all remaining Ministries/ Division should submit strategy paper/ roadmap immediately; (ii) Pakistan Embassy in Russia should prepare a paper to identify sectors/ areas to be undertaken in G2G and B2B mode and also technical assistance that may be sought from Russia; (iii) M/o Commerce to carry out micro analysis of the potential areas/ sectors for substantial enhancement of exports to Russia; (iv) M/o Commerce in consultation with Board of Investment (BoI) to prepare a list of leading business houses doing trade and business with Russia so that a meeting may be held with them; (v) M/o Industries & Production should share feasibility study and business plan to attract investors for setting up of new Steel Mills with collaboration of Russia; (vi) M/o Communication and Railways should re-submit the proposal on regional connectivity; and (vii) M/o Communications and Railways to prepare comprehensive master plan on CPEC route to make it a regional connectivity hub for Europe, Central Asia Republic and Middle East.

The sources said, Committee Members have been requested to ensure their personal participation in the meeting for prompt decision making. The Committee co-opted Board of Investment as a Member.

Copyright Business Recorder, 2024