Search Results for: Pakistan

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

Karachi joint venture Aisha Steel Mills, Karachi, is planning to increase annual production of cold rolling coil (CRC) to 450,000 tonnes per annum in the next three years from an existing 220,000 tonnes, following a successful share sale.…

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

Retired Major General Mohammad Javed, chief executive officer of Pakistan Steel Mills (PSM), has said a memorandum of understanding (MoU) between the governments of Pakistan and Russia where Moscow would help PSM’s expand production capacity from 1.1 million to 1.5 million tonnes per annum.…

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

The Pakistan government is considering a demand from ailing state-owned Pakistan Steel Mills (PSM) to exempt local iron ore from a 16% sales tax, ban its export or impose an export duty on its sale abroad.…

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

Pakistan’s steel sector has welcomed the relief offered by its government through reducing the sales tax paid on electricity used to produce steel billets, ingots and mild steel products. Irshad Mowjee, owner of a steel re-rolling mill in Karachi, said the decision would help curtail the cost of production and benefit both steel-makers and consumers.…

BY POORNA RODRIGO, IN LONDON

Demolition prices for older ships have fallen by a quarter in 2012, signaling a "historical drop" shipbroking, chartering and sale major Braemar Seascope’s research director told Steel First. He urged ship owners to scrap elderly candidates immediately and claim its "end of life bonus" as freight market would remain weak over the next two years.…

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

The Pakistan Iron and Steel Merchants Association (PISMA) is continuing to press or a 20% uniform customs duty on Pakistani imports of steel products, despite its calls being ignored in the recent Pakistan budget.

The association says the duty is needed to help protect the domestic industry from international price fluctuations.…

BY KEITH NUTHALL

THE CHAIRMAN of the Pakistan Pharmaceutical Manufacturers’ Association (PPMA) wants his government to pull back from allowing Indian medicine exporters to sell India-approved medicines in Pakistan from January 2013. Muhammad Asad told Pakistani journalists he feared his members would suffer from India being given ‘most favoured nation’ status under world trade law next year – a step agreed by Pakistan’s cabinet in December.…

BY RAHIMULLAH YUSUFAI

AFTER a decade of boom in property prices, a downslide is visible in anticipation of the withdrawal of US-led NATO forces from Afghanistan by 2014 and the consequent decrease in international aid; roughly 97% of the war-ravaged country’s gross domestic product according to the World Bank.…

BY RAHIMULLAH YUSUFZAI, IN PESHAWAR

THE PAKISTAN government has shied away from selling off Pakistan Steel Mills (PSM) in its latest privatisation announcement, with court proceedings and opposition within the company deterring a sale. PSM was not among the 23 public sector banks, insurance firms, electricity supply companies, postal services, hotels, railways, and other concerns listed for inclusion by the government’s Privatisation Commission in a new round of sell-offs beginning in April.…

DESPITE the killing of Osama bin Laden in Pakistan last May, Al Qaeda and its affiliated groups remain a global money laundering and terrorist financing concern. Yet a decade on from the September 11 attacks, counterterrorism specialists say there has been too much focus on Al Qaeda itself (it means The Base in Arabic) but not enough on associated and other militant groups that pose significant threats.…