Measures Discussed To Restore Pakistan Steels Mills Production Capacity

Board of Business Development Committee (BDC) of Pakistan Steel Mills (PSM) has called for concerted efforts to restore production capacity of mills to one million tons per year and gradually extending it to three million tons, as per demand in the country

KARACHI, (UrduPoint / Pakistan Point News - 22nd Jan, 2019 ) :Board of business Development Committee (BDC) of Pakistan Steel Mills (PSM) has called for concerted efforts to restore production capacity of mills to one million tons per year and gradually extending it to three million tons, as per demand in the country.

A meeting of the board chaired by Mohammad Raziuddin highly appreciative the government's political philosophy focused on re-operationalisation of PSM since it is the only Primary steel manufacturing plant in the country that holds its peculiar national strategic value.

BDC members were of unanimous opinion that re-operationalisation of PSM would help in contributing to the large scale manufacturing (LSM) growth besides meeting the needs of down stream industry.

The committee discussed varied options to restart PSM that holds higher probability of financial sustainability, least cost, early start and also keeping its existent human resource intact.

BDC took into account that blast furnaces of PSM have been adversely damaged primarily due to abrupt closure of the supply of natural gas in 2015.

In the given situation, the members of the committee observed that major repairs including replacement of two blast furnaces was the major cost component of repairs and replacements needed in the plants and equipment of PSM.

Mohammad Raziuddin and other members of the committee on the occasion also extensively discussed repairs required in each and every unit of PSM crucial to restore its production, initially to one million tons per year and extending the same to three million tons per year as per growing demand for steel in the country.

CDC discussing the required needs for rehabilitation of the plant to its initial production capacity also discussed possible options of resource generation for the task and interest being reflected by different parties to participate in the rehabilitation of the mills.