Business Recorder reported that Karachi headquartered Pakistan’s leading rebar maker Amreli Steels has announced production shutdowns as the country continues to suffer from effects of the cataclysmic floods. 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.”Amreli Steel said resumption of operations or further extension in production suspension will be communicated accordingly.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. 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.
Business Recorder reported that Karachi headquartered Pakistan’s leading rebar maker Amreli Steels has announced production shutdowns as the country continues to suffer from effects of the cataclysmic floods. 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.”Amreli Steel said resumption of operations or further extension in production suspension will be communicated accordingly.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. 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.
