LAHORE: The Iron and Steel Association of Pakistan (ISAP) has issued an urgent call to the government, demanding the immediate revival of Pakistan Steel Mills (PSM) rather than its dismantling for scrap.
According to ISAP, PSM should be restored and modernized to address the growing demands of Pakistan’s steel and industrial sectors.President of ISAP Raja Adeel Ashfaq said on Monday that PSM must not be reduced to scrap metal. Instead, it should be revitalized and upgraded to meet the needs of Pakistan’s steel industry and support industrial growth.
Established in the 1970s with the goal of reducing the country’s reliance on imported steel, PSM was once the backbone of Pakistan’s heavy industry. At its peak, the mill had the capacity to produce over 1.1 million tonnes of steel per year, providing essential materials for infrastructure, construction, and defence. However, decades of mismanagement, political interference, and financial difficulties led to its decline, with production ceasing entirely in 2015.
Ashfaq highlighted the significant economic potential that PSM still holds. He asserted that the mill represents decades of investment, technical expertise and industrial promise. Scrapping this national asset would be a disaster for Pakistan’s economy.
Instead, revitalizing PSM could enhance the steel industry and support the manufacturing, construction and defence sectors.
“The potential revival of Pakistan Steel Mills is not just about restoring a factory; it’s about strengthening Pakistan’s industrial independence and boosting our local steel production capacity,” Ashfaq said. “By reviving PSM, we can reduce our reliance on costly steel imports and stabilize the supply chain for the domestic market.”