20000404

Pakistan Steel

sets new

record in

production

RECORDER REPORT

KARACHI: Pakistan Steel has established a new record in steel production at 100 percent of rated capacity (92,804 MT) in March 2000.

According to a press release issued by the mills on Monday, last time Pakistan Steel reached the 100 percent mark in production was December 1996.The production in March, 2000 helped attain 94.43 percent production (258263 MT) in the third quarter of financial year 1999-2000 which is the highest ever third quarter production in the operational life of Pakistan Steel.

The release said that the last highest production in the third quarter was 89.51 percent (2447260 MT) in 1993-94.

The sales of Pakistan Steel products, however, have been persistently under pressure because of downward trends in the steel prices at the international level, lowering of import duties, import of prime quality products and the cover of secondary products, dumping and smuggling of the steel products, the release said.