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Steel industry suggests extraordinary measures

By Mukhtar Alam (Pakistan News & Features Services) Fearing that the economic and business activities will deteriorate further in the country in the wake of global Coronavirus onslaught, a consortium of key players in the country’s steel sector has urged the government to take extraordinary measures leading to motivation of the depressed steel industry in the country.  The joint body of steel industrialists, the National Steel Advisory Council (NSAC) the strategic steel sector, which is a huge tax payer, needs improvement in its cash flow to continue playing its role in ensuring employment is sustained in the country.  The NSAC in a statement observed that the Coronavirus crisis is going to create a severe cash crunch and drastic reduction in demand.  “These factors are sure to leave many businesses bankrupt and render hundreds of thousands unemployed unless the government acts immediately”.  It was further said that steel Industries across the world have been gr...