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PSM receives two shipments of Coal, another ship due by Sep end

by Daily Patriot
September 23, 2014
in National
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KARACHI (INP): Two ships namely D.L Dahlia and Ever Mighty from Australia Carrying 55,000 MTN of Coal (each) arrived at Pakistan Steel Jetty, Port Muhammad Bin Qasim, Karachi on 5-6 September 2014.

With the arrival of latest ships the total quantity of raw materials stock has increased to 1,58,000 MTN “Coal” and 52,000 MTN of Iron Ore (Lump/Fine).

Pakistan Steel Management is confident that with the arrival of the latest ships the production and capacity utilization CPU will further increase helping to achieve the targets set by Government of Pakistan.

It is pertinent to mention here that the current average capacity production utilization CAPU is 25% in September 2014. PSM workers and staff are working hard for the revival of this national asset under the leadership of Chief Executive Officer Major General (Retd.) Zaheer Ahmed Khan. Furthermore, the arrived raw material will help in increasing the production level and ultimately upto 77% by January 2015. However, the timely release of financial facilities will be of pivotal importance.

PSM Management thanked the Government of Pakistan, especially Ministry of Industries and Production, Privatization Commission, Ministry of Finance, related organization and forms for their positive role in the revival of Steel Mills.

On the occasion CEO and Management of Pakistan Steel congratulated the employees with whose efforts and prayers the much awaited revival of PSM has begun.

It is further informed that one more ship carrying 55,000 MTN Iron Ore(Fine/Lump) from Mauritania will arrive in the 3rd week of current month. In addition to that another ship of 55,000 MTN Iron Ore will reach in the next month of October 2014 from Mauritania.

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