December 01, 2007	Saturday	Ziqa’ad 20, 1428

QUETTA, Nov 30: Pakistan Steel Mills would purchase 60,000 tons of coal at an estimated cost of Rs250 million during the current financial year from Balochistan. Talking on newsmen on Friday Chairman of PS Maj. Gen. (retd) Javed said that it would not only save precious foreign exchange for the country but would also be a beginning towards self sufficiency in raw material obtained from the domestic sources. Steel Mills import raw material worth billions of rupees from foreign countries, including iron ore and coal.

He said that his visit to Balochistan was aimed to ascertain information about coal reserves as the province was rich in the coal and iron ore that should be explored.

Mr Javed claimed that investment in coalmine sector would accelerate Development and economic activities that would save the foreign exchange.

He said the people had been complaining against the high steel prices in the market which were due to transportation charges on import of raw material from foreign countries.

The PS chairman said that Balochistan supplied coal to the British India in the past and the coal was also supplied to Pakistan Railways for operating trains engines.

He said the quality of Balochistan coal was good and “we have tested the coal that fulfils our criteria.” To a query Mr. Javed said that the purchase of coal would be through open tender and priority would be given to the supplier of good quality coal.

He, however, said that the Sindh Thar coal did not fulfil standard required by the Steel Mill.