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ISLAMABAD: The Federal Minister for Science and Technology, Senator Syed Shibli Faraz, has said that Pakistan is at crossroad and the nation has to decide its future now.

He was addressing at a ceremony hosted by FF Steel on the occasion of launching of FF-grade 80 steel bars in Pakistani market.

He said good times are coming and the government will provide enabling environment. He was of the view that the government wants wealth creation for the people. He said his Ministry is also working on import substitution. He said it is also working on energy efficiency projects.

He maintained that new building codes will be framed in the country.

FF Steel, owned by former Senator Nauman Wazir Khattak is the first company in Pakistan to launch grade 80 steel bars which is the strongest steel bar in Pakistan.

Nauman Wazir Khattak said the company has manufactured grade 80 steel and it is now for the customers to have the product. He said there was always a difference in thinking of industry and academia. He said, savings will be around 10 percent by using bars of grade 80.

His company has associated with NUST and Nespak to manufacturer grade 80 steel.

According to the company with a new trend of high-rise buildings the mega projects arising out of the need for infrastructure development, the one belt one road initiative of CPEC and the construction package, all have given the construction industry as a whole a new direction.

The FF Steel announced that it will go for IPO in January next year.

Grade- 80 is high strength reinforcement steel bars used in high-rise buildings, bridges dams, and mega projects.

The Managing Director Nespak, Tahir Masood, appreciated FF Steel for launching grade - 80 steel bars in the country. He was of the view the use of FF grade 80 steel bars will reduce the cost with extra strength.

Air Vice Marshall(retired) of National University of Science and Technology, Dr. Rizwan Riaz said that NUST is open for business, adding that if faculty is not used it will be a crime.

Dr Hammad Anis Khan, Assistant Professor (NUST) said that high-rise commercial and residential projects are the demand of modern era and to meet this demand good quality high-strength building materials are desired

The standard and quality of grade- 80 steel must be in accordance with ACI - 318 and ASTM - 615.

Minister for Railways, Senator Azam Swati said that ‘mafia’ in Railways has inflicted a financial loss of Rs1.2 trillion to Railways during the last 10 years.

He said, he would continue to fight with this mafia, who is also selling scrap at lower price as compared to the prevalent prices.

Copyright Business Recorder, 2021

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