No country can develop without steel manufacturing units: Dr. Faizullah Abbasi

Reviving Pakistan Steel Mills, one the leading steel manufacturing unit of the country is a huge challenge. Government and public sector experts have varying opinions for the revival of this unit so are their ways and means.
Dawood University of Engineering and Technology (DUE&T) Karachi invited a number of senior engineers and corporate sector experts to determine if PSM can be revived.
This moot gave us an opportunity to talk to Vice Chancellor DUE&T Dr. Faizullah Abbasi on this issue.
Can PSM be revived in the current economic situation of the country?
We need steel and of course steel mills. It’s not possible that any country can develop with steel production. There is no question about it. Yes, it is to be decided if we want to revive PSM or go for building another one. I think we need three to four steel mills of PSM’s type. Also, we should revive PSM. This is how we will develop.
At the moment, we import all steel for our requirement and what we produce a small quantity at home is also poor in quality. We make it from scrap and thus varies in quality. So we need an integrated plan of steel in Pakistan.
Does Pakistan’s current economic situation suggest such a huge investment?
This is probably a chicken and an egg situation if the egg is first or the chicken. When we shall make an investment in steel making, our economy will also develop. This is the question which should be responded by the economists. But I feel PSM can technically be revived.
What did you achieve from this seminar?
We have to be the University of relevance and our core competence is technical due diligence which is our main focus. We did not take other issues related to PSM.n