KARACHI, March 31: Pakistan Steel chairman Lt-Gen (retd) Abdul Qayum has urged auto parts makers to put up their consolidated requirement for six months so that production of marketable pig iron at Pakistan Steel could be planned accordingly.
He says Pakistan Steel does not produce pig iron as its basic function is to produce steel, but efforts are being made to fulfil the market demand. In a meeting with members of the Pakistan Association of Automotive Parts and Accessories Manufacturers, the Line Pipe Industry Association, the Pakistan Foundry Association and Balochistan Wheels, the PS chief linked the steel price hike to the grabbling of raw material and steel by China, says a press release of Pakistan Steel.
"The price surge in raw materials and freight, especially cocking coal has put Pakistan Steel in a tight situation." Despite all odds, Mr Qayum said, prices of Pakistan Steel products were very much lower than the identical imported products.
