PSM production capacity needs to be raised to 1.3 MT

ISLAMABAD  - Mian Manzoor Wattoo, Advisor to Prime Minister said on Friday that production capacity of Pakistan Steel Mills (PSM) needs to be increased to 1.3 MT per annum to make it more viable and meet increasing demand of steel in the country.

He said this while chairing a meeting on expansion plans of PSM here today.

The Meeting was also attended by Chairman PSM Moeen Aftab Sheikh and senior officials of MOIP&SI.

He further said that under the current expansion plan, by end of current year, the production capacity would increase to 1.3 Million Ton per Year (mtpy) from the current 1 mtpy.

Wattoo said that under the second phase of expansion plan, by end of 2010, the capacity will increase to 1.5 mtpy.