Pakistan's iron & steel imports increase significantly

Pakistan's iron and steel imports rose 57 percent year on year in the first ten months of the current fiscal year due to the reconstruction and development activities. The total import of iron and steel rose from $703 million a year ago to $1.1 billion in the first ten months of fiscal year. The significant surge in iron and steel imports is attributed to the earthquake-related construction activities and industrial expansion. The country's steel consumption figures hover between 4-5 million tons annually. Last year, steel consumption amounted to 4.2 million tons.