Prime Minister Pakistan promised foreign investors tax exemption and financial benefits

Prime Minister of Pakistan Mr. Raja transported Asharaf at the opening ceremony of the recently built metallurgical plant in the industrial zone of Karachi Tuwairqi Steel Mills limited (TSML) promised all foreign investors financial and tax incentives in the implementation of large industrial and infrastructure projects in Pakistan.

As you know, the construction of the TSML missile plant was carried out by a subsidiary of the Holding from Saudi Arabia Al-Twairqi Holdings with the shared participation of the South Korean Posco. Al-Tuwairqi Holdings investments in this project amounted to $ 350 million, and Posco 16 million.

TSML is the first private steel plant in Pakistan with a capacity of 1 million 280 thousand tons per year. The prime minister of the country transported Asharaf invited local and foreign investors to develop new industrial facilities and attract foreign direct investment in the country's free economic zones created by the government.

“I urge foreign investors from around the world to invest in Pakistan. I guarantee you full support from the government and the country's political leadership. In our free economic zones, we can offer you a huge number of incentives and benefits, ”said Mr. Asharaf.

A key feature of Pakistan’s investment policy is an equal attitude to local and foreign investors, which allows you to leave 100% profit from shared participation in investment projects without taxation.

“Today, consumption has become per capita in Pakistan remains the lowest in the world, somewhere at the level of 37 kg per year, with the average value of this indicator in the Middle East of 208 kg, and around the world 181 kg per year. These numbers make it possible to greatly grow in the metallurgical industry of Pakistan, ”the minister emphasized.

In turn, the head of Al Tuwairqi, etc. Khilal Hussein said that “the successful completion of the construction project of the TSML metallurgical plant showed that investment and costs of business in Pakistan are very favorable for foreign companies. I am sure that our project will be an example to follow those who think to open a business in this country. I am grateful for the support and cooperation of Pakistan to the Pakistan government, which was rendered during the construction of the plant and the introduction of the most modern technologies of casting became the method of direct Midrex recovery from the Japanese company Kobe Steel. ”

The chairman and chief executive director of Posco, who was present at the opening ceremony of the metallurgical plant, noted that Mr. June Young Chung noted that “TSML will have a significant impact on the development of Pakistan's economy. The new metallurgical plant will produce high -quality steel, which differs in high strength and corrosion resistance.