President Dr. Arif Alvi inaugurates Servis LongMarch TBR Tyre manufacturing plant in Pakistan


KARACHI, (APP): President Dr. Arif Alvi, said during the period of 2013-18, tyres smuggling witnessed a rise but now their manufacturing in the country would help control the menace.

Addressing the inauguration ceremony of a Service Long March (SLM) tyre factory at Nooriabad about 80 Km away from Karachi, he expressed the pleasure that foreign investment was increasing in the country.

Dr. Arif Alvi said that the establishment of the SLM factory was the result of joint efforts of Chinese and Pakistani investors.

Appreciating China’s government and its leadership, he said there were numerous sectors like agriculture, auto and others in Pakistan where Chinese companies could invest and it would be beneficial for the two countries and their peoples.

The president said a number of steps had been taken to attract foreign investment and promote export through value-addition in the country.

He told that the Governor, of the State Bank of Pakistan, had done a tremendous job by facilitating the business community in the country.

“No country can prosper if stakeholders are not included in the policy-making process,” he added.

Employment opportunities for women and disabled persons should be created, the president reiterated.

Speaking on the occasion, Governor State Bank, Dr. Raza Baqir said the bank had introduced Temporary Refinance Economic Facility (TREF) to boost business activities in the country and loans, particularly for small businesses, were being given through the scheme on priority.

He said that loans were being given through commercial banks for small businesses on priority to boost business activities in the country.

The governor said that annual export of three hundred million dollars was expected through the tyres’ manufacturing factory.

On the occasion, the CEO of SLM, Omar Saeed said that SLM was the export-oriented company in the country, adding that we made profits but the major share of it was being spent on the welfare of the people in the country.

“We have established hospitals serving the poor people in the country and in addition, all kinds of support have been extended to other foundations in the country,” the CEO informed.