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Tag Archives: Pakistan Steel Mills

Govt not yet decided to sell 26pc shares of PIA: Zubair

ISLAMABAD: The government has not yet decided to sell 26 per cent shares of Pakistan International Airlines (PIA), said Privatisation Commission Chairman Muhammad Zubair during a press conference. “The government is yet to decide how much shares will be sold,” he said, adding that any decision will be taken in the interest of the country and the economy. He said ... Read More »

Pakistan Steel touches 36% capacity, set to achieve target under Rs18.5b package

KARACHI: Pakistan Steel Mills (PSM) has achieved 36 percent production capacity of 1.1 tonnes per annum on 15th November 2014 due to repair work on blast furnace as compared to 25 percent a day earlier on 14th November and 16 percent on 13th November, said Chief Executive Officer, Pakistan Steel, Major General (Retd.) Zaheer Ahmed Khan. He further said that ... Read More »

Pakistan Steel Mills needs Rs 500 million boiler

KARACHI: The Pakistan Steel Mills (PSM) needs a new boiler worth Rs 500 million to continue production. PSM spokesman Shahzam Akhtar said they had a 50-year-old boiler for production which was in a bad condition. The PSM has appealed to the Finance Ministry for the new boiler. The production capacity of the PSM would be increased after the installation of ... Read More »

Govt to generate $4.5b thru privatising 12 public sector entities

ISLAMABAD: The government has planned to generate $4.5 billion through privatising more than 12 public sector entities during the current fiscal year. This was stated by Minister of State for Privatisation Muhmmad Zubair, while addressing the second day of the International Investment Conference. He told the foreign investors that there were huge opportunities of investment on Pakistan as the government ... Read More »

Imports under SROs affect local industry: Pak Steel Mills CEO

ISLAMABAD: The Pakistan Steel Mills (PSM) Karachi, Chief Executive Officer (CEO) General (R) Zaheer Ahmad has complained against the misuse of SROs which was creating problems for local industry. He said that rival parties imported cheaper iron and other related products under the umbrella of SROs and inflicts losses on PSM as well as to national kitty. “SROs not only ... Read More »

Leakage at blast furnace halts Pak Steel Mills operations

KARACHI: The blast furnace of Pakistan Steel Mills has stopped working due to leakage which further halted the mill operations. Pakistan Steel Mill, suffering from severe financial and management crisis, has only two blast furnaces; one was closed due to deficiency of raw material for many months. The other furnace working in mill has stopped operations due to leakage as ... Read More »

2669 staffers of Pakistan Steel to retire in 3 years

ISLAMABAD: Summary for the recruitment as replacement of technical and non technical staff of the Pakistan Steel Mills (PSM) has been moved to the Prime Minister for approval. Out of 15274 existing PSM staff some 2669 highly technical and qualified will retire in coming three years while some 6,000 will retire by 2020. Moreover, there is already a shortfall of ... Read More »

Pakistan Steel Mills receives Rs1.75b

KARACHI: The employees of Pakistan Steel Mills (PSM) will be able to draw their salaries soon as the mills has received 5th instalment of Rs1.750 billion under the bailout package. According to PSM spokesperson Shazim Akhtar, the said amount will be used to pay around 16,000 employees’ pending salaries from 15th of July to 31st of August before Eid. About ... Read More »

Pakistan Steel Mills production increases by 35pc: Jatoi

KARACHI: Pakistan Steel Mills had increased its production to 35 per cent and would further be enhanced to 77 per cent by December this year. Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has said this while talking to journalists after cutting ribbon to inaugurate 10th Build Asia 2014 – International Building and Construction Industry Show – at ... Read More »

PSM requires investment to boost production: Economists

ISLAMABAD: Huge investments are required to improve and increase the capacity of production of Pakistan Steel Mills (PSM). This was stated by renowned economist and ex-federal finance minister Dr Salman Shah while talking to Radio Pakistan. He said that the International Monetary Fund may raise the issue of investing money in the PSM in upcoming days, adding that now it ... Read More »

First shipment of 110,000mt of coal berthed at Port Qasim

KARACHI (INP): Mega Ocean carrying 55,000 metric tonnes of Metallurgical Coal from Australia berthed at Pakistan Steel Mills Jetty, Port Qasim on Friday. Another ship Mega Lohori, carrying 55,000mt of Metallurgical Coal from Australia has also reached at the outer anchorage of Port Qasim. It is pertinent to mention here that this is the first shipment of 110,000mt of Metallurgical ... Read More »

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