This refers to the news report, ‘PSM output hits six-year high of 60 percent’ (March 12). The PSM has achieved production capacity of 60 percent following the bailout package earlier approved by the government. But apprehension exists that the mills may not be able to sustain this level of production in the future due to an ageing plant and machinery. Even the total production capacity at 1.1 million tons per annum will meet only a fraction of the country’s total steel requirement.
With a work force of 17,000-18,000 personnel, the Steel Mills cannot become viable. In order to make the Steel Mills viable and to avoid future bailouts, it is suggested that the existing plant and machinery be scrapped and replaced with a 3-4 million-ton capacity technology plant that can be procured from China or South Korea at a reasonable cost. There is no denying the fact that the PSM is the mother of all industries and a catalyst for faster industrialisation. In addition, it is of great importance in promoting defence capability.
Arif Majeed
Karachi