Steel Mills at Standstill

[Leader]

PMLN Experience: The mother of all industries” has come to a complete halt.

Steel Mills at standstill - Pakistan - DAWN.COM

but do the Ganjas care?

 

[WAJsal]

but do the Ganjas care?

gunjas hahaha

 

[narcon]

We have our own elephant by the name of air india.

Like this: ???

PIA grounds five planes for lack of spare parts - Pakistan - DAWN.COM

According to a letter sent to the PIA chairman by Director of Flight Operations Capt Qasim Hayyat, two Boeing-777s and one each Boeing-747, Boeing-737 and A-310 had been grounded because of non-availability of spare parts.

Lol

 

[airmarshal]

Musharraf resuscitated Steel Mills and in his time it was running in profit.

PPP looted it and bled it white and now its the turn of gunja.

Pakistan cant even become industrialized if it does not have steel mills.

 

[narcon]

Musharraf resuscitated Steel Mills and in his time it was running in profit.

PPP looted it and bled it white and now its the turn of gunja.

Pakistan cant even become industrialized if it does not have steel mills.

Solution?

 

[SBD-3]

Solution?

This kind of stuff requires brains, insight and understanding of PSM's current business conditions....And these three are absent to the extent of 99.99% of population in defence.pk
The problem with PSM is that its machinary is out dated, it faces stiff compitition locally, there hasn't been any investment in the capacity ehnacement and replacement of aged out machinary.
Mushi regime tried to sell it out to private investors (because they knew that soon this horse was going to die) but the SCP intervened and blocked the sale citing deal not to be on fair valuations. None of the official was able to convince the court that investors also knew the state of the industrial unit and would have to take losses immediately after the investment. So logically they always wanted to buy assets sub-par to create that cushion for them. However, once those investors gone, now nobody is interested in even touching the steel mills with a stick because it is nothing more than land and structure in its current operating status (~10% of its production capacity)

 

[raazh]

PMLN Experience: The mother of all industries” has come to a complete halt.
Steel Mills at standstill - Pakistan - DAWN.COM

but do the Ganjas care?

You do know that Steel has been the bread and butter of Sharif owned Itefaq Group. How can this Steel Mill (main competition) survive under PML-N Govt ?? SRO's is the name of the game .. and the nooras are famous for this experience

 

[narcon]

Mushi regime tried to sell it out to private investors (because they knew that soon this horse was going to die) but the SCP intervened and blocked the sale citing deal not to be on fair valuations. None of the official was able to convince the court that investors also knew the state of the industrial unit and would have to take losses immediately after the investment. So logically they always wanted to buy assets sub-par to create that cushion for them. However, once those investors gone, now nobody is interested in even touching the steel mills with a stick because it is nothing more than land and structure in its current operating status (~10% of its production capacity)

Solution?

 

[SBD-3]

Solution?

Sell it out one way or another, cuz it will keep eating national exchequer in the name of bail outs for years to come.

 

[Jazzbot]

Same old story, Pakistan Steel Mill has always been suffering under Noora rule. Ittefaq Steel Mill is the answer.

 

[narcon]

Sell it out one way or another, cuz it will keep eating national exchequer in the name of bail outs for years to come.

Why it is not being done?

 

[SBD-3]

Why it is not being done?

lack of interest from buyers and politics being the main issues.

 

[narcon]

lack of interest from buyers and politics being the main issues.

So whats gonna happen?
Pakistan economy destined to suffer due to these factors?

 

[SBD-3]

So whats gonna happen?
Pakistan economy destined to suffer due to these factors?

very likely for the time being.

 

[narcon]

very likely for the time being.

Period for such "time being" ??? I mean how long would it last?
Why do you use such words like time being, may I know?