Pak Observer reported that Pakistan Steel Mills production is stabilizing with the receipt of 55,000 tonnes of coal and it will increase further as more raw material is being imported.

Mr Syed Abdul Hafeez Shah spokesman of PSM said that after the bank guarantee given by government of Pakistan for importing raw material for Pakistan Steel, a ship carrying 55,000 tonnes coal from Australia arrived at Port Qasim on January 12th 2012 and the consignment has been shifted to PSM stock yard.

He said that the PSM management has been working through different sources to import a big quantity of raw material. Some LCs has been opened. Another ship will bring 55,000 metric tonnes of iron ore at Port Qasim next month.

He mentioned that PS also gets continuous supply of a good quantity of iron ore from Balochistan which is being used in the blast furnaces as replacement to the imported iron ore. The raw material supply from Balochistan has helped PSM and the government in saving a big amount spent on imported raw material.

Mr S Hafeez Shah said that PSM has produced more coke with increased consumption of coal in coke oven battery and as a result of coke processing the gas production has increased which has helped PS generate additional 12 MWs of electricity. Besides meeting its own demand, Pakistan Steel has selling electricity to Karachi Electricity Supply Company.

He said that PS management has been pursuing the guidelines, decisions given by the government, ministry of industries and production, PS board of directors and its chairman Mr Fazalullah Qureshi and better results have come up.

(Sourced from www.pakobserver.net)