KARACHI - A ship carrying 55,000 metric tons of iron ore for Pakistan Steel reached Port Qasim Pakistan Steel Jetty from Australia. The unloading of iron ore has been started through 4.2 km conveyer belt from Port Qasim Jetty to Pakistan Steel raw material stockyard. PSM opened LC of $8.3 million to M/S Cargill International for this ship, which arrived on Thursday at PS Jetty.

According to PS spokesman, present management of Pakistan Steel is making arrangements for maintaining timely supply chain of raw material and floated several tenders for iron ore out of which 3 tenders finalised and first shipment of 55,000 MT iron ore in the current year arrived successfully.

Besides, the usage of local iron ore is also keep on going to run the production wheel. Spokesman said that according to the recent signed contracts, arrival of further shipments of iron ore in coming days is also expected; he added that this continuity in the supply chain of raw materials will help PS to increase its production utilisation and overcome other issues.

Pakistan Steel spokesman said that the present PSM Chief Executive Officer Mohammad Javed has successfully stepped forward by achieving the basic and important targets for the revival of PSM and delivering his best just to enhance and overcome the shortage of raw material.