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 engineers and experienced skilled workers had completed the repair & maintenance works of Blast Furnace No.1 and One Converter of Steel Making Department. He added that Blast Furnace No.2 would also start its operation during current month.
Furthermore, two ships carrying 55MT each of Iron Ore from Mauretania and Metallurgical Coal from Australia would also arrive at Pakistan Steel Jetty this month. It is further imperative to mention here that the Pakistan Steel Mills uses huge quantity of best quality raw materials i.e. Iron Ore and Metallurgical Coal. The PSM has 110,000MT of Iron Ore and 125,000MT of Metallurgical Coal stocks which are sufficient to achieve production target.
The government is also likely to provide the PSM with rupees 1.5 billion next week which will help to disburse salaries to all the employees Pakistan Steel and procure further raw materials.
PSM management is poised to achieve Government of Pakistan’s set target in view of current financial package of Rs18.5 billion as per the said plan.
