Shaukat Aziz advisor to Lakshmi Mittal

[Always Neutral]

The LN Mittal ranks 8th Richest person in the world by Forbes, he is the owner of ArcelorMittal, world's biggest steel company. It is recession times, normally he ranked in top 5 richest person in the world.


I don't think Mr. Mittal owns even a steel plant in India. Yeah, he is investing some 1 billions in steel plants but still not have a running in India.


What will the Lakshmi Narayan Mittal gain from appointment former Pakistani finance minister as his employee. This shakut aziz will ruin the business empire.

Mittal did not want to run steel mills in India as his family already does and that was the agreement when he was given all the over seas assets?

He now does want to set up a green field project in India?

He has many advisors and the Ex PM of Pakistan is just that an advisor.

Regards

 

[Peregrine]

Hi,
Some how i can't stop thinking if Shaukat Aziz had such intentions it also brings General Musharraf's reputation as a very loyal man according to some circles, under question as well, after all he was the President and if such a deal was under pipeline, it must have been co ordinated right under his nose, and apparently he didn't seem so concerned about selling the Mill to Indians against whom he was raised to fight, i know he has a huge fan following on Face book, but this is the problem with Pakistani's when people who commit crimes go off the scene or disappear for a time and then reappear people make Heroes out of them and tend to forget what kind of damages they caused to the country.

 

[Veer]

I don't believe Pak needs anyone to buy its assets out. It needs to work hard on its own to figure ways out of problems.

I don't think one should mix business and emotions.

Even the more powerful and richer Europe has choose to sold its company "Arcelor" to Mr. Mittal.

Mittal owns several steel plants all over the world.

As government owned companies always underperformed and are burden for the nation.

Government of India have also sold its many companies to Indian private companies so that they become competitive, profitable, provide jobs and give tax to government.

The thing is if he runs the company it will provide jobs to people, tax to government.

One has to choose from employment and unemployment and cost to the Exchequer.

 

[haawk]

How many times we have to hear this fabricated Indian Mantra that Dawood is based in Pakistan. He is welcome to come and go, however the DAWOOD that Indians always point to in Karachi is Seth Dawood. A semi-prominent Business man - a totally different person. Who is dead and now his children, also Dawoods are handling his businesses.

Thats why you have Dawood plastered everywhere around Karachi. It's not Dawood Ibrahim.

The only Seth Dawood we could give you was:



But he died a few years ago.

oh is that so aquil....... we indians are so dumb to think that seth dawood is dawood ibrahim....thank you for enlighitening us ....


can you tell me who is the daughter in law of Javed Miandad-your famous cricketing legend?????? and why is dawood's family (i.e.his wife ,children etc always based in pakistan?considering that dawood is not in pakistan)......

 

[qsaark]

Hi,
Some how i can't stop thinking if Shaukat Aziz had such intentions it also brings General Musharraf's reputation as a very loyal man according to some circles, under question as well, after all he was the President and if such a deal was under pipeline, it must have been co ordinated right under his nose, and apparently he didn't seem so concerned about selling the Mill to Indians against whom he was raised to fight, i know he has a huge fan following on Face book, but this is the problem with Pakistani's when people who commit crimes go off the scene or disappear for a time and then reappear people make Heroes out of them and tend to forget what kind of damages they caused to the country.

Is this a secret that Aziz had full support of his boss? Why the Justices were sent home? Was that not the Steel Mills case that sparked the whole fiasco?

 

[Veer]

18/01/2010

Steel sovereign ArcelorMittal enters Pakistan



Staff Reporter
KARACHI: The ArcelorMittal, world's largest steel manufacturer, has entered into Pakistan to exploit its over 10 million tonnes iron and steel market following the prevailing steel crisis in the country.
ArcelorMittal, owned by an Indian industrialist Lakshmi Mittal, and having its headquarters in Luxembourg, has entered into the Pakistan's market with all sorts of iron and products including billets, slabs, deformed bars, low carbon wire rods, high carbon wire rods, beams, angle, channel, hot rolled coils, hot rolled plates, cold rolled coils, hot dip galvanized coils, pre-painted galvanized coils, galvalume coils, electrolytic tinplate coils, black plate, electrical steel, etc.
ArcelorMittal Manufactures while producing 116 million metric tonnes of iron and steel in 2007 had reduced to 103 million tonnes of iron and steel in 2008 but it is still the world's number one steel producer. Japan's Nippon Steel remains at the second place with 37 million tonnes per annum.
According to market sources, the ArcelorMittal, having larger products range than what Pakistan Steel makes, is likely to offer competitive prices in Pakistan.
Pakistan Steel, facing worst ever crisis since its inception, is producing only 35 per cent of the total capacity and that too with the larger content of local iron ore due to shortage of raw material. The biggest ever loot and plunder in the history, during last one-and-a-half year and misappropriation of about Rs22 billion, the profit-making Pakistan Steel is now on the verge of total collapse. Pakistan Steel's management has tried to rescue the mills by increasing steel products' prices last week. However, it is unlikely that price increase would be able to stabilise the mills as foreign players and imported items are out to give tough time to the steel mills.
Mittal Group was also eyeing on Pakistan Steel during Gen Musharraf's regime when former Prime Minister Shaukat Aziz ordered Privatisation Commission to throw away the largest industrial complex of Pakistan for peanuts. The Mittal Group, however, could not participate in the bid as Pakistan's laws prevent Indian buyers to bid for any Pakistani industrial or commercial facility.
Steel sovereign ArcelorMittal enters Pakistan - News

Moreover law in Pakistan are not fair for business.

Mr. Mittal can't blame to buy as he can't buy because of unfair law of Pakistan. It is some kind of racism.

 

[TechLahore]

Can't agree more. This makes it all the more shady.

However, how credible is this news? Is he a salaried employee or he gave Mittal and advice or two and the media blew it out of proportion?

A financial advisor is not a salaried employee. You appoint Wealth Advisors, or Fund Managers to manage your portfolios. For example, I could hand over my money to Morgan Stanley's Private Wealth Management group and they would be my Financial Advisors. They do not take a salary from me, but charge a percentage of the overall managed portfolio as an annual fee. This is usually 1-2%

I think what has happened is that Shaukat Aziz, like many former bankers, has setup up his own fund or his own management practice. Mittal may have committed some capital to this fund/practice. This does not mean Shaukat Aziz is "working for" Mittal or an employee of his. If I contributed capital to Kleiner Perkins' fund, that wouldn't mean John Doer is suddenly working for me! This is a ridiculous insinuation.

 

[Always Neutral]

Always for your information, Pakistan Steel Mills was one of the most profitable entity till the time our corrupt politicians ruined it

Pakistan Steel, facing worst ever crisis since its inception, is producing only 35 per cent of the total capacity and that too with the larger content of local iron ore due to shortage of raw material. The biggest ever loot and plunder in the history, during last one-and-a-half year and misappropriation of about Rs22 billion, the profit-making Pakistan Steel is now on the verge of total collapse. Pakistan Steel's management has tried to rescue the mills by increasing steel products' prices last week. However, it is unlikely that price increase would be able to stabilise the mills as foreign players and imported items are out to give tough time to the steel mills.

 

[Cheetah786]

Just because Mittal is Indian businessperson dosent mean he will invest money just to loose it.

Business is Business simple as that in todays economies Business has no borders like it or not it's a simple fact.yeah to most of u he was selling out to me he was making a tough decision thats needed to be done today or tommoorow .
we loose money on these crown corporations no one here can deny that so you people are ok with theives robbing from us but since a buisness man is intrested and he is an indian we have a problem with it.when this guy will run it he will have to pay taxes thats a net gain not a loss we want foreign investment but we dont want foreign investment which one is it.
As we are looking for foreign investment we should welcome any body As the rest of the world is doing.
When nawaz was investing in india i didnt see any indian standing up and complaining thats becuase every dollar invested in india creates jobs and takes the losses away from governments.

I for one will invite any Body in the world and i do mean Any body to invest in pakistan any day welcome we are open for buisness.

 

[Veer]

ArcelorMittal to buy equipments from India, China

Kolkata: ArcelorMittal, the biggest steel group, will buy equipments for its new plants across the world from China and India to reduce their costs, a senior official said on Thursday.

Pierre Jonette, chief executive of Design & Engineering Centre at ArcelorMittal, said the cost of equipments in the two Asian countries were about 40% cheaper than in Europe.

“So it has been decided internally to source equipments from these low-cost destinations for most of our greenfield projects,” he said.

The company is looking to buy boilers and steel structures from India, and blast furnace, coke oven and sinters from China, said Jonette, who is based in the eastern Indian city of Kolkata where the design centre is located.

“Equipments cost constitutes nearly 50% of the total cost,” he said. “By these steps our main objective is to bring down the cost of a overall project by 20-22%.”

ArcelorMittal’s new projects include plants in Saudi Arabia, Kazakhstan and Brazil, he said.

It also has plans to build two steel plants in the eastern Indian states of Orissa and Jharkhand to produce a combined 25 million tonnes.

The Indian projects were initially expected to cost $20 billion to $25 billion, but Chairman Lakshmi Mittal said last September the cost could rise by about a half due to delays in getting government approvals.

Mr. Mittal is building Steel Plants in Islamic Saudi Arabia with holiest Muslim places but not allowed in Pakistan. And people complain of lack of investment in Pakistan.

 

[Always Neutral]

Just because Mittal is Indian businessperson dosent mean he will invest money just to loose it.

Business is Business simple as that in todays economies Business has no borders like it or not it's a simple fact.yeah to most of u he was selling out to me he was making a tough decision thats needed to be done today or tommoorow .
we loose money on these crown corporations no one here can deny that so you people are ok with theives robbing from us but since a buisness man is intrested and he is an indian we have a problem with it.when this guy will run it he will have to pay taxes thats a net gain not a loss we want foreign investment but we dont want foreign investment which one is it.
As we are looking for foreign investment we should welcome any body As the rest of the world is doing.
When nawaz was investing in india i didnt see any indian standing up and complaining thats becuase every dollar invested in india creates jobs and takes the losses away from governments.

I for one will invite any Body in the world and i do mean Any body to invest in pakistan any day welcome we are open for buisness.

People don't realise the trade works two ways. Mittal is an EU company irrespective of its Indian owner. You keep Mittal out and we are happy to keep Pakistani exports out of the EU.

I think for some people here the problem is that an Indian is hiring a Pakistani ex PM so it hurts for some reason. I am sure if Bill Gates had hired him. This thread would full of Go Pakistan Go.

 

[Patriot]

Had Mittal purchased Pakistan Steel mill.It would have been generating plenty of revenue today but now it is actually costing Pakistan governemnt.Mittal is a businessman.He couldn't care less about Pakistan Indo Affairs.

 

[Awesome]

oh is that so aquil....... we indians are so dumb to think that seth dawood is dawood ibrahim....thank you for enlighitening us ....


can you tell me who is the daughter in law of Javed Miandad-your famous cricketing legend?????? and why is dawood's family (i.e.his wife ,children etc always based in pakistan?considering that dawood is not in pakistan)......

Javed Miandad's kid and DI's kid married each other. If that is your logic, then no you're even dumber!

 

[Always Neutral]

Javed Miandad's kid and DI's kid married each other. If that is your logic, then no you're even dumber!

But your best friends USA and Interpol also state he lives happily in pakistan so why deny?

 

[notsuperstitious]

Javed Miandad's kid and DI's kid married each other. If that is your logic, then no you're even dumber!

Yeah, maybe Javed Miandad thought he was marrying his kid to dawood seth's kid and not to an international terrorists kid?

I'll give him benefit of the doubt, these misunderstandings happen.