Prices of PSM products to be linked with int'l markets
Published: April 30, 2009 LAHORE - Federal Minister for Industries and Production Manzoor Ahmed Wattoo has said the prices of the Pakistan Steel Mills’ products would be linked with the international markets and the PSM would have to seek permission from the Ministry of Industries and Production for any change in its products’ rate.The federal minister was addressing the first Iron and Steel Conference, Problems and Prospects in Pakistan’, arranged by All Pakistan Steel Re-rolling Mills Association (APSRMA) at a hotel in city.
The Association Chairman Latif Chaudhry, Al-Tuwairqi Project Director Zaigham Adil Rizvi, National Consultant on Mines and Minerals Dr Sajjad Hussain also addressed the opening session.
In the technical session, Pakistan Steel Mills HR Director Qaisar Saleem, People’s Steel Mill MD Dr Muneer Ahmed and Dr Shahzad Alam from PCSIR laboratories highlighted various aspects and potential of the steel industry in Pakistan.
The minister said the new Industrial Policy would be announced within the next three months and consultations in this regard were under way with all the stake-holders, including the industrialists.
The minister said that tenders would be published in the press for the expansion of PSM and companies would be selected for the purpose solely on merit basis.
He said the government has a plan to evolve a mechanism to ensure transparency in all dealings of the steel mill.
The minister assured that there would be open bidding of all the products of the PSM to avoid favourtism and corruption.
