‘Capacity utilization of PSM to touch 45-50% by Sep’

KARACHI (INP): Chief Executive Officer (CEO) Pakistan Steel Mills (PSM), Major General (Retd.) Zaheer Ahmed Khan, Hilal-e-Imtiaz (Military) has said the state boy has achieved 22% of CAPU (Capacity Utilization) until 20th September 2014 and next month we will touch 45-50% of capacity utilization.

He said during a meeting here on Monday. He briefed the participants regarding the recent financial restructuring package of Rs.18.5 billion given to PSM by the government for the revival of the national asset.

He said, “We have delivered in the past and we will continue to deliver. All the necessary up-gradation automation, capital repair and maintenance are being done. Arrangements are being made to transport best quality of Iron Ore and Metallurgical Coal in order to ensure continuous delivery of the best quality product to our valuable Consumers. Government of Pakistan has entrusted us with Rs.18.5 billion and showed confidence, firm faith and belief in the management and workforce. The CEO further requested that the product of this national asset may be supported and we will ensure timely delivery”.

The consumers posed confidence in the CEO and assured their full support. It was suggested that such meetings may continue in future as well in order to bridge the communication gap and develop trust. They put forth some suggestions which were noted and the management was tasked to come up in line with the suggestions.

The meeting concluded with the vow from both sides to develop a mutually strong relationship in order to revive PSM past glory.


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