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Saturday November 1st 2014

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COMMERCIAL AGENT NEEDED

COMMERCIAL AGENT NEEDED

Dear All We are pleased to inform you that in Pakistan, we are the leading and sole manufacturers and suppliers of Rail Track Fastening Material, Steel Sleepers and Turnouts of various types and are exporting our goods in various countries of the world. We are also adequately equipped for the medium–to-heavy steel fabrication. In [...]

Government rescues Steel Mills

Government rescues Steel Mills

ISLAMABAD: Prime Minister Yousaf Raza Gilani on Friday approved Rs 25.1 billion bailout package for Pakistan Steel Mills, saying that the PSM will not close down as it is a national asset which has to be managed both professionally and commercially. The premier linked the bailout package to improved performance and said that politicisation of [...]

PSM CEO directed to invite more int,l competitors for expansion plan

PSM CEO directed to invite more int,l competitors for expansion plan

ISLAMABAD, (SANA): Federal Minister for Industries & Production Mir Hazar Khan Bijarani has directed the CEO PSM to contact with the above mentioned companies and also invite other international competitive companies and get proposal from them for expansion plan. “Work out a comprehensive proposal on its own terms and conditions keeping in [...]

Pak Steel seeks a Rs25 billion bailout package

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 [...]

Tuwairqi Steel may start solar, wind energy production

Tuwairqi Steel may start solar, wind energy production

KARACHI: Tuwairqi Steel Mills Ltd (TSML), the first steel-maker in the private sector in Pakistan, plans to start alternative energy production and manufacture of engineering goods, mill’s official said on Friday. “TSML is contemplating to set up a solar module manufacturing factory, capable of producing up to 12 megawatts of solar modules [...]

Iron and steel sector in trouble

Iron and steel sector in trouble

KARACHI: Iron and steel traders are facing harassing attitude by concerned governmental departments and abusive dominance by shipping companies that take various charges from time to time, which is hampering their business, said President Karachi Iron & Steel Merchants Association (KISMA) Shamoon Baqir Ali while meeting with President KCCI Abdul [...]

Sheikh Afzal family asked to hand over property

Sheikh Afzal family asked to hand over property

Islamabad—A three-member Supreme Court bench on Monday directed the family of Sheikh Afzal, main accused in Haris Steel Mills fraud case, to handover the possession of their property to the Bank of Punjab (BoP) within three days. The bench comprising Chief Justice Iftikhar Mohammad Chaudhry, Justice Ch Ijaz Ahmed and Justice Ghulam Rabbani [...]

Pakistan Steel Mills case: millions recovered

Pakistan Steel Mills case: millions recovered

Lahore: The FIA helped recover losses worth Rs 12.75 million for Pakistan Steel Mills after filing a case against the Mill’s director Abbas Ameer Ali. The FIA had lodged an FIR against Ali, accusing him of giving benefits to a private company. In the investigation it was revealed that Ali’s illicit activities incurred losses worth Rs 12.75 [...]

COMMENT: Forging Pakistan’s economic future — II —Shahzad Chaudhry

COMMENT: Forging Pakistan’s economic future — II —Shahzad Chaudhry

The services sector remains the fastest money-spinner. Slowing it down deliberately as an exception to seek greater emphasis on manufacturing and agriculture is a wrong strategy. The services sector must keep the wheels of the economy churning, while the spin-off must be sensibly reinvested in the other two sectors The first part of this [...]

NA body directs FIA to probe Railways corruption

NA body directs FIA to probe Railways corruption

LAHORE: National Assembly Public Accounts Committee’s sub committee on Railways on Saturday directed the Federal Investigation Agency (FIA) to submit a report until April 21, on a corruption scandal in the Railways, in which scrap was stolen and sold without floating a tender. After chairing the committee’s meeting at Railways Headquarters, [...]

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