Pakistan Steel can stand due to coal deficiency

Since May 2013, Pakistan Steel production capacities worked 4 to 5 percent of design indicators, and at the beginning of 2014 the year of the year works in idle by maintaining the minimum heat regime. The largest metallurgical enterprise Pakistan is provided with iron ore for 2 months, but there is practically no coal.

The representative of Pakistan Steel Shazim Akhtar told our correspondent that the plant had concluded long-term contracts for the supply of coal and Australia and Canada for 2014, but cannot make a purchase due to lack of money. “The ship's party of 50 thousand tons of coal costs about 10 million dollars,” he said.

According to Shazim Akhtar, the plant workers received the last salary for the first half of October. Thus, the Pakistan Steel administration needs money to pay off wage arrears of about 16,000 employees from October 15 to January 15. The Pakistan government announced the beginning of debt repayment, but did not name the specific terms and sources of financing.

In addition to the salary, there is a debt for energy and electricity, Shazim Akhtar emphasized. 9.2 billion rupees received by Pakistan Steel in the state support package in 2013 were spent on paying off previous debts to workers and other expenses.