KARACHI, May 12: Sales of Pakistan Steel Mills during the first 10 months (July-April) of the current fiscal year rose by 31 per cent to Rs31,212 million as against Rs23,830 million of the same period last year, said a press release issued here on Monday.

In April 2008, Pakistan Steel achieved the highest-ever monthly sale of Rs3,747 million as against Rs3,648 million in July 2007.

The PSM achieved sales of Rs30.066 billion in 2006-07 as against Rs20.643 billion in 2005-06, showing an increase of 45.65 per cent and earned a profit of Rs3.1 billion.

The target of Pakistan Steel sales for 2007-08 is Rs36.244 billion and it is expected to cross Rs39 billion mark.—PPI