Pakistan steel mills: Raw material supply on its way

KARACHI: After the government bailout package brought much needed liquidity in Pakistan Steel Mills, the first two shipments of raw material coal and iron ore will arrive in January and continue in the coming months, according to a press statement issued by the state-owned enterprise on Friday. Pakistan Steel forwarded a business plan to the production ministry after approval, which was accepted and the government recently approved Rs6 billion immediate loan for the procurement of imported raw materials, which will directly help Pakistan Steel Mills increase production. On the other hand, the management is also planning a gradual increase in its production by keeping blast furnace and steel convertor operational round the clock and make hot rolling mills operational from its own sources and save electricity cost. The plant is currently utilising local iron ore and coke from available coke breeze to keep all its production plants safe from any technical losses and providing monthly salaries to its employees.

Published in The Express Tribune, December 24^th, 2011.