19 September 2004	Sunday	03 Shaban 1425

LAHORE, Sept 18: The Pakistan Steel Re-rolling Mills Association has demanded review of the oppressive purchase conditions dictated by the Pakistan Steel Mills and adoption of a user-friendly sales policy instead.

Association chairman Akhtar Saeed and executive committee members voiced the demand at a press conference immediately after their election at the annual general meeting held at the Lahore Chamber of Commerce and Industry here on Saturday.

They said the Pakistan Steel was not pursuing a business-like sales policy on account of its monopoly. It was almost impossible to register with it as a consumer on the one hand and those already registered face irrational conditions on the other.

They said the Pakistan Steel Mills was also required to review the prices of its products in view of $100 per ton reduction in steel prices in the international market in the recent past. The steel mills had raised the price by an enormous Rs9,750 per ton as a result of a fortnightly price adjustment spree when the price in international market increased from January 2003 to February 2004, but was not ready to reduce it when it was falling worldwide.

They said reduction in price of the Pakistan Steel Mills products was necessary because it had created a crisis in the construction industry which could not meet its demands from any other source following the collapse of the ship breaking industry due to enormous increase in prices of old ship in the global market last year.

Following office-bearers were elected at the annual general meeting of the association:

Chairman: Akhtar Saeed; vice-chairman (Lahore circle): Sheikh Muhammad Hanif; vice-chairman (Karachi): M. Latif Chaudhry, Lahore circle executive committee: Mian Arshad, Mian Javed Iqbal Mughal, Asmat Pervez Malik and Haji Muhammad Aslam and Karachi circle executive committee: Najam Muhammad Sadiq, M. Shafi, Masood Sadiq and Ejaz Ahmad.