Increased raw material supply boosts PSM output to 38pc

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The uninterrupted arrival of raw material has increased the production of Pakistan Steel Mills (PSM) to 38 percent, said a spokesman of PSM. He said the coal and iron ore ships created an improved stock position of PSM raw materials. “This resulted in a good increase in production activity of PSM as it crossed 30 percent production and all praise to Allah (SWT) yesterday (Feb 28) the PSM achieved production at 37.7%,” he said. The PSM management is trying to reach at 60% production level in next few months if the required facilities were provided on timely. “The PSM ensures to become a profitable entity by the grace of Allah (SWT) within a few months,” the spokesman said.