Karachi - Sindh Chief Minister Syed Qaim Ali Shah has agreed with Ambassador of the Republic of South Korea Song Jong-hwan to take up the matter of providing gas at the concessionary rate to Pakistan’s largest steel complex in private sector Tuwairqi Steel Mills being operated under the joint venture between Saudi Arabia’s Al Tuwairqi Group of Companies and South Korea’s Phong Steel at Karachi to the Federal government for settlement.

This he agreed, on the request of the Ambassador of Republic South Korea Dr. Song Jong-hwan who called on him at CM House here on Thursday.

While talking in the meeting Dr. Song Jong-hwan informed the Chief Minister that previous governments in Pakistan had made the commitment for providing gas at concessionary rate to the Tuwairqi steel but now federal government doesn’t response to the management in this regard. He said that Al Tuwairqi has planned to make further investment of $900 million in the next phases of this mill, if gas is supplied at concessionary rate.

The Chief Minister said that since this is federal subject but he will approach the Federal Government and would recommend it to resolve the problems of Tuwairqi Steel in Karachi, which according to him, was in the interest of people Sindh and Pakistan as well.  Syed Qaim Ali Shah said that it was good omen that Saudi Arabia and South Korea were making such huge investment here and he will fully support them and talk to Prime Minister to get this problem settled.  He said that the development of any province is considered the development of Pakistan. He said that the PPP government was following investment friendly policies in Sindh and in Centre when in power. He said that his government was giving priority to provide all facilities and incentives especially to the foreign investors in the province.  He said that because of government policies and strategic position of Karachi about 60pc heavy and medium level industries are located in Sindh.

The CM said that Sindh has good experience of Korean investment and expertise in the construction of 64 km Hyderabad-Mirpurkhas road.  He said that Sindh has good potential of investment in different sectors including agriculture, textile, energy & Infrastructure. He said that world famous Toyota and Yamaha manufacturing companies are also investing in Sindh and  invited South Korean companies/ investors and traders to come here, explore the opportunities of investment and accelerated the trade and commerce activities.  The Chief Minister assured that in addition to fool proof security, all facilities and incentive would be provided to the investors.

Shah also welcomed the investment made by republic South Korea, for building children hospital at Sukkur with a cost of $46 million, running charity hospital at Orangi Town Karachi since more than 20 years and providing support in running of Govt Technical Training institute at Korangi Karachi to benefit the general community of province.

The Chief Minister also lauded the investment made by Daewoo Company especially in the transport sector and its future plan of communication between Karachi-Lahore. He was of the view that bilateral visits and arranging industrial Expo would further boost up the economic relation both side.

The Ambassador Republic South Korea Dr. Song Jong-hwan while talking on the occasion said that the investment companies of his country were eager to invest in Pakistan if they are facilitated properly.

He said that his country has good relations with people of Pakistan and people of Sindh as such we are operating a charity hospital in Karachi since 23 years and constructing children hospital at Sukkur with a cost of $46 million only for the patients of Pakistan / Sindh. He said that he was deeply interested to get the gas problem of Tuwairqi Steel Mills resolved and to materialise further investment of $900 million in Sindh. Secretary on Universities & Board Syed Mumtaz Shah was also present on this occasion.