Pakistan’s Steel industry news and business
Thursday February 22nd 2018

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Pak Steel seeks a Rs25 billion bailout package


Karachi: Pakistan Steel (PS) has requested the Ministry of Industries and Production and the Ministry of Finance to arrange a bailout package of Rs25 billion to help the mill run efficiently and overcome its financial problems.

“The management of Pakistan Steel is striving hard to harness each and every source to enhance its production capacity and sales of its products at competitive prices to the international market,” said the PS in a press release on Friday. The PS said that in the last few months it has stepped up procurement of iron ore and coal which are essential for iron and steel production. “The supply line has been restored,” it said. Over the past month, the PS said, it has received two shipments of coal and one shipment of iron ore. [Read More]