Pakistan

Pakistan Steel focus on domestic raw materials

KARACHI : Pakistan Steel Mills management in the pursuance of its self-reliance policy has been utilizing all options

Published October 4, 2011 Updated October 4, 2011 03:05pm

2 min

By Imad Uddin

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According to a statement issued by PSM Spokesman here on Tuesday, about 0.65 million metric tons of local iron ore from Baluchistan was utilized in Pakistan Steel till last month. This not only helped increase the economic activity in Baluchistan but to improve PSM production.

He said Pakistan Steel was trying its best to switch to domestic iron ore. The fluctuating prices of imported iron ore and sometimes the rising costs of transportation by cargo ships put PS in difficult situation.

After comprehensive tests in the Pakistan Steel's ISO certified laboratories, iron ore obtained from Baluchistan was being used by Pakistan Steel.

Pakistan Steel is not only depending on purchasing local iron ore but also has got three iron ore mines on lease in Baluchistan. For this purpose, PS management has formed separate departments of Captive Mining under supervision of PS senior Engineer Qaiser Saleem and an Indeginization Department, which are working on these mines, to bring out the deposits of iron ore.

Moreover, he said, iron ore from PS mines will cost about 50 percent less than the imported one. Besides, a great economic activity has been generated leading creating many jobs and contributing towards the uplift of Baluchistan.

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