"Two shipments of 20,000 MTN and 50,000 MTN of iron ore have arrived at Pakistan Steel Jetty, Port Muhammad Bin Qasim, Karachi and a ship of 50,000 MTN is being unloaded since September 19," Shazim Akhtar, spokesperson said. The iron ore has been imported from Mauritania. Two ships of 50,000 MTN each of coal from Australia were also cleared from September 8 to 18, 2014 at Pakistan Steel Jetty.
With the arrival of latest ships the total quantity of raw materials stock has increased to 160,000 MTN coal and 112,000 MTN of iron ore (lump/fine). Pakistan Steel Mills management is confident that with the arrival of the latest ships the production and capacity utilisation will further increase helping to achieve the targets set by Government of Pakistan.
It is pertinent to mention here that the current average capacity production utilisation has increased 25 percent almost of the total capacity of 1.1 million tonnes per annum. PSM workers and staff are working hard for the revival of this national asset under the leadership of Chief Executive Officer Major General Zaheer Ahmed Khan (Retd). Furthermore, the latest arrived raw material will help in increasing the production level and gradually up to 77 percent by January/February 2015. However, the timely release of financial package will be of pivotal importance.
PSM management is extremely thankful to the Government of Pakistan, especially Ministry of Finance, Privatisation, Ministry of Industries and Production and related organisations such as FBR for their positive role in the revival of Steel Mills. On the occasion CEO and Management of Pakistan Steel Mills congratulated the employees for their efforts for revival of PSM. It is further informed that another ship of 55,000 MTN iron Ore will reach by the October 6, 2014 from Mauritania.-PR