AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, Service Industries Limited is delighted to share significant news regarding its associated company, Service Long March Tyres (SLM). In a meeting with Prime Minister Shehbaz Sharif at the PM office, Chairman Li Qinqwen and CEO Omar Saeed revealed SLM’s ambitious expansion plans and proposed a substantial increase in investment.
During the meeting, Chairman Li Qinqwen and CEO Omar Saeed expressed their intention to raise SLM’s investment in the Pakistan joint venture company to a staggering $200 million. With this increased capital infusion, SLM aims to become the largest exporter of engineering goods from Pakistan, targeting an annual export value of $100 million.
Prime Minister Shehbaz Sharif warmly welcomed the Chinese investors and expressed his gratitude for their confidence in Pakistan’s economic potential. He assured them of complete support from all relevant government departments to facilitate SLM’s expansion and investment plans. The meeting witnessed the presence of important officials, including SAPM Tariq Pasha, the Secretary of Commerce, the Secretary of Investment, and the Secretary of Industries.
SLM, a joint venture project specializing in the production and sale of truck and bus radial tires in Pakistan, has demonstrated its commitment to the country’s economic growth. With Service Industries Limited holding a 32.09% equity stake and its subsidiary, Service Global Footwear Limited, holding 18.91%, both companies stand to benefit significantly from SLM’s expansion and increased investment.
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