Pakistan's steel imports to hit $2.2bn as local production rusts away

17 April, 2016 12:00 AM printer

KARACHI: Steel imports could cost the country up to $2.2 billion at the end of this fiscal year as demand for the commodity is on the rise amid robust construction activity.
The commodity’s imports stood at $1.3bn during the first eight months (July-February) of this fiscal year compared to $1.8bn during the entire FY15, reports the Dawn.
The fact that steel prices are low on the international market suggests the country has been importing much more iron and steel in terms of volume.