Mirza Hadayat Ullah chairman standing committee of Faisalabad Chamber of Commerce and Industry (FCCI) for Light Engineering has expressed concern over repeated increase in the prices of steel and demanded substantial decrease to save national industry from total collapse.
Rejecting recent increase of Rs 2000 in the prices of steel, he termed it highly objectionable and said that it will create artificial price hike which will have negative impact on small industries.
He warned that closure of industrial units will not only inflict colossal loss to national economy but also render hundreds of workers jobless.
Mirza Hadayat Ullah said that Pakistan Steel Mills has failed to cater to the national needs which is affecting the over all growth of the small industrial sector.
He said that government must give a due consideration to the establishment of other steel mills if PSM was not in a position to increase its production. He said that Russia has already offered to help Pakistan and government must give a serious thought to this proposal in greater national interest.
Mirza Hadayat Ullah has also appealed to the Federal Minister for Industries and production Liaqat Ali Jatoi and Chairman PSM Lieutenant General Abdul Qayyum (Retd) to end the practice of increasing steel prices to end uncertainty in this business.
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