October 11, 2008

Pakistan Steel achieves 99% steel production target in March

Business Recorder reported that Pakistan Steel has sold its various products worth PKR 3,429.62 million in March 2008. It has also kept the pace of its production activity up and achieved 99% of its target for steel production.

Pakistan Steel officials said that the total production was stood at 83% in the March 2008. But Pakistan Steel produced 109% steel by its existing production capacity on April 2nd 2008. The officials also claimed that the mill was successfully producing pig iron, an essential raw material of steel, by using local Chaghi Iron Ore.

They said that by using local raw materials, the mill was not only saving money but also promoting local trade and economy. They vowed that the mill would continue production with same pace in future as well.