No #11

The Financial Daily - - CONTINUATIONS -

Let­ters of Credit (L/Cs) for pro­cure­ment of raw ma­te­ri­als will be opened, and the re­main­ing amount will be used for cap­i­tal re­pairs and pay­ment of util­ity bills, that is, SSGC, KWSB and KElec­tric bills.

Pak­istan Steel Man­age­ment is in con­tin­u­ous con­tact with the Min­istry of Fi­nance through Min­istry of In­dus­tries and Pro­duc­tion for the re­lease of re­main­ing amount of Rs 750 mil­lion of 1st tranche.

On its re­ceipt, the salary for half month of July will be dis­bursed to the em­ploy­ees. Pak­istan Steel man­age­ment is con­fi­dent that with re­lease of 4th tranche of the ap­proved pack­age, pro­duc­tion of the mill would im­prove fur­ther and will help in achiev­ing the ca­pac­ity util­i­sa­tion tar­gets set by the govern­ment. - APP

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