ADD ANI AS A TRUSTED SOURCE
googleads
Menu
Asia

China's Century Steel Mill warns of shutting down plant in Rashakai Economic Zone

China's Century Steel Mill has warned of shutting down its plant in the Rashakai Economic Zone as the company lists 18 specific grievances, ARY News reported.

ANI Nov 16, 2024 05:42 IST googleads

Representative Image

Islamabad [Pakistan], November 16 (ANI): China's Century Steel Mill has warned of shutting down its plant in the Rashakai Economic Zone as the company lists 18 specific grievances, ARY News reported.
Rashakai SEZ is a flagship project under the industrial cooperation of China China-Pakistan Economic Corridor (CPEC) framework and is listed as the prioritized CPEC SEZ by the China-Pakistan Joint Cooperation Committee.
According to ARY News, Century Steel complained about its problems to Pakistan Prime Minister Shehbaz Sharif through a letter and informed them about its decision to halt the project.
The letter stated that the high cost of land in the economic zone is making the project unviable, while unfair competition from FATA and PATA-based steel mills is impacting the steel industry across Pakistan, ARY News reported.
Century Mill complained that power shortages and delays in approvals by NEPRA have made it hard for the company to operate, ARY News reported.
Obstacles in machinery imports, rising cost of steel and extreme security expenses are among the challenges faced by the company. The company gave the Pakistan government a final warning and urged it to improve the situation.
"This is our final communication. If the situation doesn't improve, we will begin dismantling the plant," the company wrote in the letter. (ANI)

Get the App

What to Read Next

Europe

Blasphemy laws in Pakistan target religious minorities: GHRD

Blasphemy laws in Pakistan target religious minorities: GHRD

At the 61st session of the United Nations Human Rights Council, the organisation Global Human Rights Defence (GHRD) raised concerns over the continued misuse of blasphemy laws in Pakistan and their impact on religious minorities.

Read More
Europe

Growing empowerment of women reflects changing social landscape

Growing empowerment of women reflects changing social landscape

In her statement, Bhat said new pathways to empowerment are emerging across the Union Territory, supported by government initiatives and community participation.

Read More
Asia

China’s expanding system of censorship exposed in Dharamshala

China’s expanding system of censorship exposed in Dharamshala

The event titled "Understanding China's System of Political Repression: Voices of Resistance through Art and Journalism" brought together prominent voices critical of China's information control, as reported by Phayul.

Read More
Asia

MEA rejects Pakistan’s statement on India-Canada deal

MEA rejects Pakistan’s statement on India-Canada deal

"We reject this statement made by Pakistan on the matter. India's credentials regarding non-proliferation are impeccable and well recognised by the global community. A country with a well-documented history of clandestine nuclear proliferation can hardly preach the virtues of export controls and proliferation risks. Such ludicrous statements are nothing more than an attempt by Pakistan to distract from its own abysmal record," he said.

Read More
Asia

India rejects Pakistan's "baseless allegations"

India rejects Pakistan's

India on Thursday rejected Pakistan's allegations of aggravating skirmishes with Afghanistan, calling them "baseless" and accusing Pakistan of blaming others for its own misdeeds.

Read More
Home About Us Our Products Advertise Contact Us Terms & Condition Privacy Policy

Copyright © aninews.in | All Rights Reserved.