Steel consumption low in Pakistan

KARACHI: Pakistan’s per capita consumption of steel is only 21.7 per cent of the global average, indicating huge potential for growth, said Dr Hilal Hussain Al-Tuwairqi, Chairman of Al Tuwairqi Group.

He said while most countries have per capita consumption of around 175 kg of steel every year Pakistanis consume only 38 kg.

Al Tuwairqi was speaking after being elected chairman of the board of Arab Iron and Steel Union (AISU), the region’s largest Arab conglomerate of iron and steel producers comprising more than 80 companies from 16 Arab states.

“Even if we consider a very modest increase in per capita steel consumption to 80 kg over the next 10 years, the steel requirement works out to be 16 million tons per annum for a population of around 200 million by the year 2020.”

The Al-Tuwairqi Group (ATG) had signed a memorandum of understanding with the Ministry of Industries and Production on May 28 for setting up a $100 million steel plant.

Published in the Express Tribune, June 12^th, 2010.