ISLAMABAD, Sept 25: Russia has expressed its desire to enter into Pakistan’s automobile manufacturing sector and would be sending a formal proposal on the subject to Pakistan for negotiations very soon.

According to an official fax message received from Moscow, the Russian minister for industry Ilya Klebnov during a meeting with his Pakistani counterpart Liaqat Ali Jatoi assured that a proposal for manufacturing of tractors, bulldozers, cars and jeeps will be sent to Pakistan soon.

Mr Jatoi, who has been under fire at home on high car prices, expressed the hope that this move will help reduce automobile prices in Pakistan to ensure a healthy competition enabling the common man to afford and own a transport.

“The Russian government has decided that the inaugural meeting of the Russia-Pakistan Inter-governmental Commission would take place in the first quarter of next year as Russia was actively working in this direction,” the Russian minister said.

They emphasized the importance of emerging warm relations between Pakistan and Russia. The Russian minister referred to President Musharraf’s visit to Russian Federation as a watershed development in Pakistan-Russia relations.

Mr Jatoi also discussed with his Russian counterpart the status of Phase-I and Phase-II expansion in the Pakistan Steel Mills. He stressed that it was up to Russia to come up with a financial package, and that award of contract will be decided strictly on merit.

He invited the Russian entrepreneurs to take advantage of the enormous opportunities in Pakistan.