How much reserves of gold Pakistan have?

[ziaulislam]

Any update on Rekodiq project, has it changed our Pakistan’s destiny

democracy came

 

[BATMAN]

How about No and you dont ask a question back?

i think NO is a blessing for country like Pakistan.
Otherwise, if not Zardari... some one else will waste it.
There's no order /planning in Pakistan other than army.

 

[El Sidd]

i think NO is a blessing for country like Pakistan.
Otherwise, if not Zardari... some one else will waste it.
There's no order /planning in Pakistan other than army.

We cant let the country become an Auction for them Bloody capitalists

 

[Asian.Century]

Where is Rekodiq money going?

 

[Sugarcane]

Where is Rekodiq money going?

Yaar tum ne kya khandaaroo main muth marnay ka record kaim karna hai

 

[Maarkhoor]

Pakistan have massive reserves of Gold in Reko diq

For every project our holy supreme court end the deals from Reko Dek to Steel mill....Once steel mill worth 22 billion PKR but kana cheap justice end the deal after watching qayamat Masood's program...Now nobody showed any interest and we are offering steel mill free with PIA.....

 

[Asian.Century]

Yaar tum ne kya khandaaroo main muth marnay ka record kaim karna hai

Tu nein kr lia record, mein bhi ker loun ab.

 

[niaz]

For every project our holy supreme court end the deals from Reko Dek to Steel mill....Once steel mill worth 22 billion PKR but kana cheap justice end the deal after watching qayamat Masood's program...Now nobody showed any interest and we are offering steel mill free with PIA.....

“Market Price” is the price that the market is willing to pay for the goods and not what you paid for it or what you consider what it is worth. I have seen petroleum refineries & storage plants which cost hundreds of millions to construct sell below the value of the scrap steel; because unless you buy below the market you cannot make a profit which is the reason why people indulge in “Business".

Steel Mill was built in 1973 with Russian help. Soviet-era steel technology was not state of the art even then. By 2006, the plant was obsolete and was heavily overstaffed. It is immaterial what Pakistanis thought PSM was worth, I have come across a figure of as much as $4-billion! There was an auction and the highest bidder, Al Tuwairqi Group of Companies submitted a winning bid of $362 million.

Being in the oil industry I can give an example of the oil tankers. Recently the Panama-flagged VLCC of 301,200 DWT, built by Hyundai Heavy Industries (HHI) in 1998 for close to $100-miliion was sold for $7.5-million. The vessel will be dismantled in Bangla Desh. A new vessel of this size will cost about $160-milion.

SC CJ Iftikhar Chaudhry was anti-Musharraf through & through and in my opinion, SC declaring Rekodiq agreement and Steel Mill sale “Null & Void” had a lot to do with the vindictive nature of a megalomaniac judge.

Let us see what has happened since. According to the Dawn of 8/8/2016.

Quote

ON June 23, 2006, a bench of the Supreme Court headed by the chief justice Iftikhar Chaudhry struck down the privatisation of Pakistan Steel Mills by means of a long, rambling judgment. The court’s action was to prove an extraordinarily expensive one for the nation. The losses of Pakistan Steel Mills are now approaching Rs400 billion. This is to disregard the hundreds of millions of dollars which were to be paid by the successful bidder.

Furthermore, the bidder had agreed to invest additional hundreds of millions in order to increase the capacity of the steel mill from one to three million tons. All these losses have been absorbed by taxpayers in Pakistan because of that flawed judgment.

Unquote

https://www.dawn.com/news/1276084

We must understand that is the “Timing” is of the essence in the investment/sale /purchase decisions. The primary reason why there is no buyer for the steel mill is that China is dumping steel plates in the market for the last few years and even the very modern steel mills are unable to compete. Even before Donald Trump arrival on the scene, European and US steel producers forced their gov’ts to impose anti-dumping duty on Chinese steel; else majority of the steel plants would have been shut down.

The following news articles are before the Donald Trump took over and started a tariff war with China.

U.S. finds China steel plate imports injure U.S. industry

https://www.reuters.com/article/us-usa-steel-plate-idUSKBN16A1ZL

EU confirms hefty new anti-dumping tariffs on Chinese steel plates

The European Commission has imposed hefty definitive anti-dumping duties on imports of heavy steel plates from China. Its investigation revealed dumping margins of between 120% and 127%, “causing material injury

https://www.energylivenews.com/2017...anti-dumping-tariffs-on-chinese-steel-plates/

Another reason why we are unable to find a buyer being that in addition to cheap steel exports from China; there is a surplus capacity of steel production in the world.

Steel Overcapacity Is a Global Problem Not Exclusive to China, Foreign Ministry Says

https://www.yicaiglobal.com/news/su...lem-not-exclusive-china-foreign-ministry-says

In my humble opinion, it is not the job of the government to run steel plants or airlines. Gov't of the day should only make the policies, rules & regulations of running the business and to ensure that these regulations are strictly enforced. The rest should be left to the private eneterprise.

 

[Maarkhoor]

“Market Price” is the price that the market is willing to pay for the goods and not what you paid for it or what you consider what it is worth. I have seen petroleum refineries & storage plants which cost hundreds of millions to construct sell below the value of the scrap steel; because unless you buy below the market you cannot make a profit which is the reason why people indulge in “Business.

Steel Mill was built in 1973 with Russian help. Soviet-era steel technology was not state of the art even then. By 2006, the plant was obsolete and was heavily overstaffed. It is immaterial what Pakistanis thought PSM was worth, I have come across a figure of as much as $4-billion! There was an auction and the highest bidder, Al Tuwairqi Group of Companies submitted a winning bid of $362 million.

Being in the oil industry I can give an example of the oil tankers. Recently the Panama-flagged VLCC of 301,200 DWT, Hyundai Heavy Industries (HHI) in 1998 for close to $100-miliion was sold for $7.5-million. The vessel will be dismantled in Bangla Desh. A new vessel of this size will cost about $160-milion.

SC CJ Iftikhar Chaudhry was anti-Musharraf through and in my opinion, SC declaring Rekodiq agreement and Steel Mill sale “Null & Void” had a lot to do with the vindictive nature of a megalomaniac judge.

Let us see what has happened since. According to the Dawn of 8/8/2016.

Quote

ON June 23, 2006, a bench of the Supreme Court headed by the chief justice Iftikhar Chaudhry struck down the privatisation of Pakistan Steel Mills by means of a long, rambling judgment. The court’s action was to prove an extraordinarily expensive one for the nation. The losses of Pakistan Steel Mills are now approaching Rs400 billion. This is to disregard the hundreds of millions of dollars which were to be paid by the successful bidder.

Furthermore, the bidder had agreed to invest additional hundreds of millions in order to increase the capacity of the steel mill from one to three million tons. All these losses have been absorbed by taxpayers in Pakistan because of that flawed judgment.

Unquote

https://www.dawn.com/news/1276084

We must understand that is the “Timing” is of the essence in the investment/sale /purchase decisions. The primary reason why there is no buyer for the steel mill is that China is dumping steel plates in the market for the last few years and even the very modern steel mills are unable to compete. Even before Donald Trump arrival on the scene, European and US steel producers forced their gov’ts to impose anti-dumping duty on Chinese steel; else majority of the steel plants would have been shut down.

The following news articles are before the Donald Trump took over and started a tariff war with China.

U.S. finds China steel plate imports injure U.S. industry

https://www.reuters.com/article/us-usa-steel-plate-idUSKBN16A1ZL

EU confirms hefty new anti-dumping tariffs on Chinese steel plates

The European Commission has imposed hefty definitive anti-dumping duties on imports of heavy steel plates from China. Its investigation revealed dumping margins of between 120% and 127%, “causing material injury

https://www.energylivenews.com/2017...anti-dumping-tariffs-on-chinese-steel-plates/

Another reason why we are unable to find a buyer being that in addition to cheap steel exports from China; there is a surplus capacity of steel production in the world.

Steel Overcapacity Is a Global Problem Not Exclusive to China, Foreign Ministry Says

https://www.yicaiglobal.com/news/su...lem-not-exclusive-china-foreign-ministry-says

In my humble opinion, it is not the job of the government to run steel plants or airlines. Gov't of the day should only make the policies, rules & regulations of running the business and to ensure that these regulations are strictly enforced. The rest should be left to the private eneterprise.

Sir, I feel honored and delighted that you like my post and replied since I am unable to reply you back because I have very shallow information...…

I solute you Sir...expect my reply tomorrow...



Regards and Salutes….