ISLAMABAD, Dec 20: Japan has offered to provide $300 million to establish around 50 training institutes for human resource development and job creation.
Minister for Industries and Production Liaqat Ali Khan Jatoi told a news briefing on Friday that he had a meeting with Japanese ambassador here on Thursday to discuss various aspects of the offer.
He said that the government planned to set up 50 training institutes of different skills and sectors so that skilled human resource was developed that could provide further employment opportunities at home and earn foreign exchange.
He said various projects including a few on fruits research would be submitted to the Japanese government within next few days for early discussions and then release of the funds.
Simultaneously, a delegation from the United Kingdom on Friday also presented a number of investment proposals for Pakistan-UK joint ventures in the country. The proposals, he said, would be examined over the next few weeks and steps would be taken to materialise them as soon as possible.
He believed the investment proposals from Britain was a big thing after the inception of the new elected government because the UK was the second highest investment contributor to Pakistan after the USA with 22 per cent share.
He said the investment target for the current fiscal year was at $1 billion but the new government would work for $2 billion investment by the end of the year.
Mr Jatoi said the government has decided to start the expansion of country’s largest industrial unit Pakistan Steel Mills to start economic activity and employment opportunities.
A decision on the expansion of the PSM has already been taken and a summary would be presented to the Prime Minister for the provision of funds and formal approval soon.
He was, however, blank as to how much investment was required to expand the gigantic unit nor could he explain as to how long the government would keep on injecting public money into sick public sector units.
The minister, who was given a presentation at Pakistan Steel a couple of days ago, said the PSM had been a loss-making organization till recently but now it was a profit-earning unit and should be provided more funds for expansion so that it could generate economic activity and employment opportunities.
Asked whether a Russian offer for PSM expansion already in hand was being given consideration, Mr Jatoi said the decision would be taken keeping in mind the economics and competitiveness of various offers.
Mr Jatoi said he had comprehensive meetings with the sugarcane growers, Sindh Sugar Mills Association and provincial agencies to resolve the sugar problem in Sindh and would be coordinating with commerce minister Humayun Akhtar and adviser on finance Shaukat Aziz to resolve the problems of both the growers and the millers.
He said if the sugar crisis was not tackled immediately it could create a very dangerous situation that would result into a large scale unemployment and more serious sugarcane growing problem next year.
Mr Jatoi said a draft ordinance for the creation of sugar support fund has been provided to sugar mills association and would be taken up with the ministry of finance and the prime minister for implementation as soon as the mills owners submitted their views.
He said the government would maintain some additional quota of sugar stocks with itself so that its prices are stabilised and would also allow sugar export keeping in mind the local requirement.
He said the government has taken a very clear policy decision that it would not go into loss-making business and has decided to re-examine many public sector loss-making units and revive them if possible and privatize those which could not be turned around.
