Business Recorder reported that Pakistan Association of Large Steel Producers has warned that Pakistan’s steel sector will be forced to close down its units for an indefinite period in case the issue of Letters of Credit is not resolved within the next four days. The PALSP meeting was attended by representatives of leading players of Long Steel industry, namely Nomee Steels, Naveena Steels, Mughal Steels, Amreli Steels, Agha Steel Industries, FF Steels, Faizan Steels, Karachi Steels, Ittehad Steels, Fazal Steels, Kamran Steels, Pak Iron, and Pak Steel. During the meeting, the documented steel sector once again urged the government to help pull it out of the crisis it has been facing due to the restrictions on opening of LCs. The members of the PALSP, who are the leading players of the steel sector, pointed out that their sector is the backbone of the economy as it has emerged as one of the country’s leading exporters. The members were concerned especially about the curbs on opening of LCs and expressed fears that if the matter is not resolved within four business days, it would lead to indefinite closure of factories, leading in turn to massive deindustrialization and job losses. The meeting was attended by representatives of leading players of Long Steel industry, namely Nomee Steels, Naveena Steels, Mughal Steels, Amreli Steels, Agha Steel Industries, FF Steels, Faizan Steels, Karachi Steels, Ittehad Steels, Fazal Steels, Kamran Steels, Pak Iron, and Pak Steel. The members were concerned especially about the curbs on opening of LCs and expressed fears that if the matter is not resolved within four business days, it would lead to indefinite closure of factories, leading in turn to massive deindustrialization and job losses.
Business Recorder reported that Pakistan Association of Large Steel Producers has warned that Pakistan’s steel sector will be forced to close down its units for an indefinite period in case the issue of Letters of Credit is not resolved within the next four days. The PALSP meeting was attended by representatives of leading players of Long Steel industry, namely Nomee Steels, Naveena Steels, Mughal Steels, Amreli Steels, Agha Steel Industries, FF Steels, Faizan Steels, Karachi Steels, Ittehad Steels, Fazal Steels, Kamran Steels, Pak Iron, and Pak Steel. During the meeting, the documented steel sector once again urged the government to help pull it out of the crisis it has been facing due to the restrictions on opening of LCs. The members of the PALSP, who are the leading players of the steel sector, pointed out that their sector is the backbone of the economy as it has emerged as one of the country’s leading exporters. The members were concerned especially about the curbs on opening of LCs and expressed fears that if the matter is not resolved within four business days, it would lead to indefinite closure of factories, leading in turn to massive deindustrialization and job losses. The meeting was attended by representatives of leading players of Long Steel industry, namely Nomee Steels, Naveena Steels, Mughal Steels, Amreli Steels, Agha Steel Industries, FF Steels, Faizan Steels, Karachi Steels, Ittehad Steels, Fazal Steels, Kamran Steels, Pak Iron, and Pak Steel. The members were concerned especially about the curbs on opening of LCs and expressed fears that if the matter is not resolved within four business days, it would lead to indefinite closure of factories, leading in turn to massive deindustrialization and job losses.
