Mr Cheema advocates privatisation of Pakistan Steel Mills

Wednesday, 02 Nov 2011

The Express Tribune reported that Pakistan’s Federal Production Minister Mr Anwar Ali Cheema has proposed to the government to privatise Pakistan Steel Mills, describing it as a sick unit whose losses are getting out of control.

He said “As the government is unable to operate the steel mill due to unbearable financial burden, it is better to privatize it.”

He said the steel mill had sought a PKR 10 billion bailout package but the production ministry recommended only PKR 2 billion to ease the industrial giant’s financial woes.

He said that “The mill has 21,000 employees, of which 50% are a burden on the government and that the ministry had asked the government to cut half of the workforce.”

(Sourced from The Express Tribune)

Pakistan’s scrap imports fall in September

Thu, 27 October 2011

Pakistan's scrap imports amounted to 100,343 mt in September this year, decreasing 46.7 percent compared to the same month last year and down 16.3 percent from August this year, according to data released by the Pakistan Federal Bureau of Statistics (PFBS).

In the third quarter of 2011, Pakistan's scrap imports decreased by 34.6 percent compared to the same quarter of last year, amounting to 353,138 mt.

Meanwhile, Pakistan's iron and steel imports in September this year amounted to 134,737 mt, decreasing by 0.4 percent on year-on-year basis and up 3.15 percent compared to the previous month this year. The country's iron and steel imports in the third quarter of 2011 totaled 375,644 mt, increasing 5.7 percent compared to the same quarter of last year.

Tags: scrap , Pakistan , raw mat , Indian Subcon , South Asia , steelmaking , imp/exp statistics
sourced: steelorbis

PSM raises steel prices

Tuesday, 25 Jan 2011
Business Recorder reported that the Pakistan Steel Mills Corporation has announced to raise prices of the six products by amounts up to PKR 4,150 per tonne, to rationalize its prices in line with international market prices.
As per report, PSM has raised prices of billets, hot rolled coils, cold rolled coils, thick plates, MS slab and pig iron by PKR 500 per tonne to PKR 4,150 per tonne with immediate effect.
Some of the details mentioned in the report are
Excluding taxes
1. Billet - Up by PKR 1,000 per tonne to PKR 4,150 per tonne90X90/ 80X80/ 75X75 mm - Up by PKR 4,150 per tonne to PKR 57,000 per tonne100X100/105X105 mm - Up by PKR 3,500 per tonne to PKR 56,000 per tonne125X125 mm - Up by PKR 2,500 per tonne to PKR 54,500 per tonne150X150 mm - Up by PKR 1,000 per tonne to PKR 53,000 per tonne
2. HRC - Up by PKR 500 per tonne to PKR 1,400 per tonne2-2.35X100/1220 - Up by PKR 1,400 per tonne to PKR 62,600 per tonne2.35- 3.25mm - Up by PKR 1200 per tonne to PKR 62,200 per tonne3.25-3.65mm - Up by PKR 1,000 per tonne to PKR 61,800 per tonne3.6504mm - Up by PKR 900 per tonne to PKR 61,500 per tonne4-5mm - Up by PKR 600 per tonne to PKR 61,000 per tonne5-6mm - Up by PKR 500 per tonne to PKR 60,700 per tonne
3. CR - Up by PKR 500 per tonne to PKR 800 per tonne
4. Plates - Up by PKR 1000 per tonne to PKR 53,000 per tonne
5. Slab - PKR 50,500 per tonne
6. Pig iron - PKR 42,200 per tonne
(Sourced from Business Recorder)

Pakistan plans outsourcing PSM management - Mr Bijarani

Friday, 21 Jan 2011

The Nation reported that Pakistan government is planning to outsource the management of Pakistan Steel Mills with an aim to improving the mills' overall performance.

Mr Mir Hazar Kahn Bijarani federal minister for industries and production said that "The expected measure would not only boost the assets’ quality of the PSM, but also to enhance its productive capacity."

Mr Bijarani said that a total of 10 foreign companies have shown interest to provide the required outsourcing service for the cash strapped PSM.

He added that "We will from a technical committee to evaluate the offer likely to be made by the interested companies."

(Sourced from www.thenation.com)