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Servis Tyres commits to further Rs30bn investment to boost exports in Pakistan
Servis LongMarch has committed to a further investment of Rs30 billion to double its capacity and to increase exports to $100m in 2025.
The company’s chairman Jin Yongsheng and chief executive officer (CEO) Omar Saeed called on Prime Minister Shehbaz Sharif to thank him for the government’s support for the tyre industry.
Servis LongMarch Tyres has also shown an intent to invest a further amount of Rs30bn for starting a new project to export specialised tyres from Pakistan to the European Union and the United States.
PM Shehbaz promised continued support from all departments and instructed relevant ministries to help export-led growth in the country.
The meeting was attended by Finance Minister Muhammad Aurangzeb, Commerce Minister Jam Kamal Khan, Minister for Privatisation and Investment Abdul Aleem Khan, and Information Minister Attaullah Tarar.
Secretary to PM Asad Rehman Gilani, Commerce Secretary Sualeh Farooqi and Board of Investment Secretary Rahim Hayat Qureshi were also present during the meeting.
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