Steel industry cooperation between Pakistan & China

Steel industry cooperation between Pakistan & China

China is helping Pakistan in many sectors including power and energy, economy, tourism, health and now steel industry. Both the countries decided to start mutual cooperation and China can transfer its technology equipment to Pakistan.

Pakistani steel industry can be more advanced and environment friendly with the help of Chinese technology and equipments. China use low-quality mineral resources in its industries which is afforable and environment friendly.

Output of Pakistani steel industry

The output of Pakistani steel industry is not enough to meet the needs of its market. According to 2020 data collected from World Steel Association, the annual production of steel in Pakistan is 3.8 million tons and average need of steel is 7.3 million tons annually.

Pakistan has been importing steel and steel products from several countries to meet its demand. Chinese Economic Net also reported that quality of Pakistani mineral resources is one of the main reason of Pakistan’s dependency on steep import.

Most of the mineral resources of Pakistan are foundnin Balochistan and KPK where situation is little bit complex making it difficult to get full advantage of available resources. The overall production of steel industry is also slow and demand is huge.

Li Sheng, concluded that Pakistan is enrich with mineral resources, 60% of its area is covered with mountains and geological activities have generated a huge amount of mineral resources but proper usage and maintenance is missing.

Read more | PKR Gains Rs1.5 After IMF Tranche Received

The fact that steel industry is backbone of any country, Pakistan needs to pay more attention towards this industry. China is a great friend of Pakistan and all time ready to help neighbour country in any sector.

The cooperation with China will solve the existing problems of old technology and make Pakistani steel industry to progress quickly in correct direction.

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