KARACHI: As Pakistan seeks Chinese assistance to revive the loss-making mega-corporation, Pakistan Steel Mills (PSM), officials and stakeholders believe it could take three to four years to bring ...
ISLAMABAD: The government has set up a new committee to devise a sustainable plan for the future of Pakistan Steel Mills (PSM), the state-owned industrial giant that has been bleeding resources since its shutdown in 2015.
Pakistan's Ministry of Environmental Protection has shut down five steel rolling mills in Lahore, Punjab, due to air pollution caused by these steel mills. Ali Ijaz, deputy director of the ...
In mid-February, a Bloomberg report described one-third of Turkey's steel capacity as being "paralyzed." Ercan Ersoy of Bloomberg writes, "Large steel mills in southern Turkey are expected to remain …
The Sindh government has now announced the plan to set up a new steel plant in place of the old one, Secretary Industries and Production said. Moreover, the …
The federal government has decided to move forward with the Pakistan Steel Mills permanent shut down after numerous attempts to privatize the state-owned enterprise failed, the decision marks the end of an era for the once-flourishing industrial giant. The government now faces the challenge of managing the repercussions of this closure on …
ISLAMABAD: Federal Minister for Industries and Production Hammad Azhar on Saturday rolled out a restructuring plan for Pakistan Steel Mills (PSM), according to which the mills would be run through …
ISLAMABAD – Pakistan Steel Mills (PSM), once the pride of the nation, is grappling with an uncertain future as it continues to bleed the national exchequer. Despite being the largest industrial unit in Pakistan during its operational days, no buyers have expressed interest in acquiring PSM, according to the Senate Standing Committee on ...
Karachi-based Pakistan Steel Mills (PSM) has announced that its production has almost come to a halt due to gas supply disruptions since June 10. English. Türkçe; ... Pakistan Steel Mills may shut down due to gas shortage. Tuesday, 30 June 2015 11:45:02 (GMT+3) ...
In a statement on Wednesday, the Secretary of Industry and Production said that the Sindh government has been offered to take over 700 acres of the total 19,000 acres of land of the PSM and establish its own steel plant on the site. Last year, the secretary claimed, they found out that there was no buyer for the Pakistan Steel Mills.
Pakistan Steel Mills Corporation (PSMC)—once a highly profitable organization and considered one of the largest and sole steel producers in Pakistan—is on the verge of collapse and passing ...
The case of Pakistan steel mills is a bit like two steps forward and then two steps back repeated in an endless loop until anyone following what happens to the company goes just a little bit loopy. ...
The Pakistani government has decided to close Pakistan Steel Mills (PSM), according to media reports. The government will also give the control of lands belonging …
Pakistan Steel had estimated losses of Rs 22.4 billion till June 30, 2023, while gas liabilities reached Rs 33.5 billion. ISLAMABAD: The federal government has decided to close down Pakistan Steel Mills (PSM), a state-owned enterprise that has been suffering from heavy losses for years, here on Monday.. As per the issued statement, Secretary …
The circular stated that gas supply to important parts of Pakistan Steel's plants, including blast furnaces, was severely restricted since June 2015, with the aim of preventing significant ...
ISLAMABAD: The federal government has decided to shut down Pakistan Steel Mills (PSM), a state-owned enterprise that has been incurring heavy losses for years, ARY News reported on Wednesday ...
The Sindh government has now announced plans to establish a new steel plant to replace the old one, the Secretary of Industry and Production. Moreover, the federal government …
ISLAMABAD: The federal government has decided to close down Pakistan Steel Mills (PSM), a state-owned enterprise that has been suffering from heavy losses for years, here on Monday.. As per the issued statement, Secretary Industries and Production said that the Sindh government has been offered to take over 700 acres of the total …
Abdul Rahman Zaki is currently the chairman of Karachi University Business School, and co-coordinator evening program at University of Karachi, Pakistan. Prof. Zaki supervises a number of scholars pursuing doctoral programmes. With more than 25 years of teaching experience, his research interest focuses on Export Marketing, International …
This steel mill is one of the worst in terms of productivity, snide efficiency; even Saudi steel mill has eight times more production. It will be in the best interest of Pakistan to shut it down ...
ISLAMABAD: Steel industry is in the midst of an unprecedented crisis.With the surging costs, many large producers are struggling to stay afloat, as they informed Profit on Thursday.. According to the details shared by the representative body of large steel industries, the Pakistan Association of Large Steel Producers (PALSP), "at the …
Last year, the secretary claimed, they found out that there was no buyer for the Pakistan Steel Mills. "Apart from 700 acres, the land will be used for industrial purposes", he added. Meanwhile, Chief Financial Officer (CFO) Arif Sheikh claimed that the federal government has decided to close down PSM due to its poor performance and ...
KARACHI: The government is planning to sell Pakistan Steel Mills that have been shut since 2015 early next year after encouraging response from companies including Chinese and a Russian company,...
Pakistan News Service Since 2002 Sunday, 08 September 2024 Top News ... Minister for Industries and Production Hamad Azhar has said the government has decided to privatize Pakistan Steel Mills in order to revive and steer it out of losses. ... loss making entity and then was shut. He regretted that no effort was made by the previous …
Situated on the far-east side of Karachi's coast, the unit that sprawls over 19,000 acres of land, is now costing more than Rs.15-20 billion annually, and that too while it has been shut since 2015.
Pakistan's Cabinet Committee of Privatisation (CCoP) has approved the privatization of Pakistan Steel Mill Corporation's (PSMC) core operating assets following the recommendation of the Privatization Committee.. The privatization which will create employment and reduce debt is expected to ease the pressure on the country's …
ISLAMABAD: Though closed since June 2015, Pakistan Steel Mills (PSM) is reported to have earned after-tax-profit of about Rs7.45 billion in 2021-22 even though its accumulated losses of Rs206bn ...
ISLAMABAD: The federal government, led by PML-N, has made a decisive move to close down the financially struggling Pakistan Steel Mills (PSM) and allow the Sindh province to utilize its vast land for broader industrial purposes.. In addition to scrapping PSM, plans are underway to potentially establish a new steel mill in …
ISLAMABAD: The federal government has decided to shut down Pakistan Steel Mills (PSM), a state-owned enterprise that has been incurring heavy losses for …
The committee will also explore options to revive Pakistan steel mills with the cooperation of the private sector. Read more: Pakistan Steel Mills removed from government privatization list It is ...