HMC wants JVs with private sector to harness the potential of local industry
ISLAMABAD: Managing Director, Heavy Mechanical Complex (HMC) Engineer Zaheer Shah here said that HMC was ready for JVs and partnerships with the private sector to harness the potential of local industry for indigenous production of products.
MD HMC along with his team visited Islamabad Chamber of Commerce and Industry and exchanged views with Sardar Yasir Ilyas Khan, President ICCI to enhance collaboration with the private sector.
Abdul Rehman Khan, Vice President ICCI was also present at the occasion.
Engr. Zaheer Shah said that HMC was manufacturing many high value products including sugar and cement plants, oil & gas processing plants, hydro power plants, turbines, and high pressure boilers.
Besides, it was also manufacturing cranes, overhead pedestrian bridges, steel structures and railways equipment and was ready for JVs and partnerships with the private sector.
He said that ICCI should collaborate in connecting the local industries with HMC, which have the potential and capability to join hands with it in production activities.
He said that HMC was also working to manufacture heavy duty trucks for the defence sector and would also explore the possibility of manufacturing commercial vehicles at a later stage.
The MD, HMC said that many products of HMC could find a good market in African and other countries and said that ICCI should cooperate in exporting its products to potential export markets.
He said that Pakistan’s economic future was linked with industrialization for which consistent policies were needed. He invited the ICCI delegation to visit HMC and see its facilities for exploring JVs and partnerships for the private sector.
Speaking at the occasion, Sardar Yasir Ilyas Khan appreciated the contribution of HMC towards industrial development by manufacturing industrial plants and equipment.
He said that Pakistan’s industrial sector has great potential to grow but the potential still remained untapped and unexplored.
He urged the government to focus on conducive policies and development of modern infrastructure to boost industrialization.
He said that high energy cost in Pakistan was a barrier for industrialization and investment and urged that the government to focus on cheap energy production so that industry could flourish in the country.
He said that China and many other countries announced attractive relief packages for their industries to combat the impact of Covid-19 and urged the Government of for considering deferring taxes and loans of industries and businesses till the issue of Covid-19 was resolved that would help them to survive and revive industrial and business activities. - APP