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PSM clarification 31-1-2014




  • Reference is made to a news item published in Business Recorder, Karachi, dated: 30.01.2014, the spokesman for Pakistan Steel stated that Pakistan Steel engineers/technicians are handling the blast furnace complex operations professionally despite shortage of raw material of required quantity and quality. This situation requires frequent change of operational parameters. Such incidents (although small in number) have been handled effectively and efficiently in the past and the reported incident was of similar nature/category which was attended by the Engineers and Technicians in shortest possible time. The Blast Furnace is now operating satisfactorily. 

    Moreover, it is, pertinent to mention here that Pakistan Steel, due to insufficient funds/financial crunches not able to purchase/procure coal through long term contract, as one shipment costs around USD 10 million, However, in order to keep blast furnace alive, the PSM management through concerned efforts and with true professional/technical approach has succeeded in procuring small quantities of coke from local market and a ship of 10,000 MT Coke is expected to reach PSM in the second week of February 2014 the second Blast Furnace will commence its operation after the receipt of above shipment. In addition, Pakistan Steel Mills has sufficient stock of iron ore (Lump/Fine) to keep the mills operational at present capacity, which includes 22,300 tons on Ore(Fine) presently being unloaded at PSM Jetty. 

    As mentioned above in the news clipping regarding mismanagement/non-technical, leadership in Pakistan Steel Mills, the spokesman said that the management/ workers/technicians are technically qualified and have long experience to deal successfully with operational problems. Pakistan Steel management is in close contact with the Government of Pakistan for release of funds for payment of salaries to the employees. It is expected that the required funds would be received soon.-PR 

    Copyright Business Recorder, 2014

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