950809

Foundry pig iron

PSMC urged

to rationalize

distribution

system, prices

RECORDER REPORT

FAISALABAD: In case the prices and distribution system of foundry pig iron is not rationalised with immediate effect foundry workshop units througout Pakistan would be forced to close down which would render lakhs of wage earners unemployed and damage the national economy. This was stated by secretary general Faisalabad Foundry Owners Trage Group (FFOTG) Mian Sultan Noorani in his telegram to Chairman Pakistan Steel Mills Corporation (PSMC).

He said that as a sequel to non-availability and high prices of pig iron which is the sole monoploy of PSMC, foundry units in Faisalabad, Lahore, Gujranwala and other cities had observed a total protest strike on August 2 and 3 and if immediate corrective measures are not adopted, foundry units all over Pakistan would be forced to close down for good which would throw lakhs of wage earners out of jobs and damage the national economy irreparably.

In view of these grave apprehensions Noorani called upon Chairman PSMC to rationalise the prices and distribution system of foundry pig iron.

Copies of the telegram were also sent to Prime Minister and minister for finance industries and production.