ISLAMABAD, Dec 3: Minister for Industries and Production Mian Manzoor Ahmad Wattoo said on Wednesday that a comprehensive national industrial policy was under consideration to widen the industrial base of the country.

Talking to stakeholders of the steel industry the minister said the policy would be announced soon. State Minister for Industry Dr Ayatullah Durrani was also present in the meeting.

Mr Wattoo said suggestions and proposals would be welcomed as the government believed in private public partnership in framing all national policies, he added.

The minister said that the steel industry’s problems would be solved on priority basis as this was “our responsibility”. He said his ministry was reviewing the activities and output of the steel sector as the government is fully aware of the problems of the industry and effects of price fluctuation in the international market.

He said all decisions would be made in national interest and with the consultation of the stakeholders of the steel industry.

He appreciated the proposal that the steel price should be fixed on the level of international steel rates and said, “We will review it and the mechanism of fixing the price will be made soon if it was in national interest”.

Regarding taxation problems faced by the local steel industry, he said a meeting with the chairman Federal Board of Revenue (FBR) was being arranged so that the grievances of steel makers should be resolved soon.

Mr Watoo said that Pakistan Steel Mills was a national asset and all efforts would be made to streamline its productivity. The PSM would not be privatised in national interest, he added.

He said the proposal for making representation of private steel stakeholders on board of directors of Pakistan Steel will be considered and a decision would be made if found suitable for national interest.

Secretary Industry Shahab Khawaja, Asad Elahi of EDB and Irfan Nadeem, member FBR were also present in the meeting.