Karachi headquartered Pakistan’s leading rebar maker Amreli Steels has announced that it will resume its production from 1 October 2022 as it has sufficient stocks in hand to meet its customers demand during the period of shutdown.In an earlier stock filing on 31 August, Amreli Steels had announced that it is shutting down its plant for twenty days. . Amreli Steels said “it has decided to shut down its plants for twenty days owing to low demand of steel rebars in the country due to unprecedented monsoon rains and flash floods witnessed across the country. Consequently, no manufacturing will take place from 31 August to 19 September 2022.”The development comes after floods caused by record-breaking torrential rains have devastated the north and south of the country, affecting over 33 million while causing large-scale infrastructural damage. Over 80 districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa have been officially notified as calamity hit with over 1,500 dead since 14 June. The flooding comes at a time when the economy remains engulfed in high inflation and depleting forex reserves. Government officials have said that devastation due to floods would cost the Pakistan economy at least USD 10 billion.Mr Abbas Akberali founded Amreli Steels in 1972 and since then it become the largest and most well-known steel bar manufacturer in Pakistan.
Karachi headquartered Pakistan’s leading rebar maker Amreli Steels has announced that it will resume its production from 1 October 2022 as it has sufficient stocks in hand to meet its customers demand during the period of shutdown.In an earlier stock filing on 31 August, Amreli Steels had announced that it is shutting down its plant for twenty days. . Amreli Steels said “it has decided to shut down its plants for twenty days owing to low demand of steel rebars in the country due to unprecedented monsoon rains and flash floods witnessed across the country. Consequently, no manufacturing will take place from 31 August to 19 September 2022.”The development comes after floods caused by record-breaking torrential rains have devastated the north and south of the country, affecting over 33 million while causing large-scale infrastructural damage. Over 80 districts in Sindh, Punjab, Balochistan, and Khyber Pakhtunkhwa have been officially notified as calamity hit with over 1,500 dead since 14 June. The flooding comes at a time when the economy remains engulfed in high inflation and depleting forex reserves. Government officials have said that devastation due to floods would cost the Pakistan economy at least USD 10 billion.Mr Abbas Akberali founded Amreli Steels in 1972 and since then it become the largest and most well-known steel bar manufacturer in Pakistan.
