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Iron, steel imports surge as State Bank relaxes curbs

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KARACHI: Pakistan’s iron and steel scrap imports rose to their highest level since 2021, indicating a shift in the government’s import policy, according to data shared by Arif Habib Ltd (AHL) on Saturday.

AHL reported that iron and steel scrap imports reached 359,759 tonnes in September, up 30 per cent year-on-year and 36pc month-on-month. During the first quarter of FY26, total scrap imports increased by 12pc to 935,981 tonnes. In value terms, imports stood at $178 million in September, reflecting an 11pc rise year-on-year, while first-quarter import values declined by 2pc to $486m due to a 12pc fall in the average import price to $524 per tonne.

The State Bank of Pakistan (SBP), in coordination with the Ministry of Finance, has eased import restrictions during FY26. This relaxation contributed to a trade deficit of over $9bn in the first quarter and allowed 86pc higher profit repatriation by foreign investors compared to a year earlier.

Iron and steel imports have significant implications for industrial activity, foreign exchange reserves, and overall economic stability. Over the past two years, the sector faced disruptions due to foreign exchange shortages and restrictions on the import of raw materials such as steel scrap. While import volumes have recently rebounded, demand remains subdued amid slow economic growth.

Steel sector sees higher raw material inflows after two years of import restrictions

Pakistan’s per capita steel consumption was around 48 kilogrammes in FY22, declining to an estimated 36kg in FY23, well below the global average of about 222kg.

According to a 2024 report by the Pakistan Credit Rating Agency, global GDP growth and steel consumption are closely linked, as steel is a key input in construction and manufacturing. The global steel market contracted by 1.1pc in CY23, in line with a slowdown in global GDP growth to 2.7pc, largely due to high interest rates and inflation. For CY24, global GDP growth is projected at 3.2pc, with steel demand expected to rise by 1.7pc.

During FY24, Pakistan’s GDP grew by 2.4pc year-on-year, while domestic steel consumption rose slightly by 1.8pc following the lifting of import restrictions on scrap in June 2023.

The rise in scrap imports is seen as positive for the long steel sector, where scrap is the main raw material for producing billets, rebars and girders.

Published in Dawn, October 26th, 2025





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Pakistan Engineering Development Board gets new chief

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ISLAMABAD: After a gap of nine months, the government has appointed Hamad Ali Mansoor as the new chief executive officer (CEO) of the Engineering Development Board (EDB).

Mr Mansoor’s appointment, in the MP-I scale, is for a three-year term. The position had been vacant since January, and the recruitment process was initiated through an advertisement issued on Nov 17, 2024.

According to the Ministry of Industries and Production, a total of 248 applications were received. Thirty-three eligible candidates were shortlisted and interviewed by the selection committee in February. The committee recommended a panel of three candidates in order of merit: Hamad Ali Mansoor, Akhtar Ahmad Bughio and Shakeel Zahid.

Established in 1995, the EDB functions under the Ministry of Industries and Production to promote, facilitate and regulate the engineering sector in Pakistan.

Mr Mansoor holds an undergraduate degree in mechanical engineering and an MBA from the Schulich School of Business, York University, Toronto. He has over three decades of experience in industrial policy, manufacturing and infrastructure development, with a focus on renewable energy and sustainable growth.

Published in Dawn, October 26th, 2025



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PPP reaffirms commitment to farmers

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ISLAMABAD: The PPP has reiterated its commitment to supporting the farming community and vowed to continue its struggle to end all injustices faced by the farmers.

“PPP remains committed to respecting, empowering, and reviving the ag­­ricultural sector for a pr­­o­s­­perous Pakistan,” said the party’s Central Informa­tion Secretary Shazia Ma­­rri. She quoted PPP Chair­man Bilawal Bhutto-Zar­d­ari as saying that no economy can be strong if its farmers are weak.

“Chairman Bilawal Bhutto-Zardari believes that strengthening the farmer means strengthening Pakistan itself,” Ms Marri said in a statement issued on Saturday.

Ms Marri said that Bilawal Bhutto-Zardari’s vision was clear — the true measure of progress lies in the prosperity of farmers. She recalled that during the PPP government, Pakistan had moved from wheat shortage to becoming a wheat-exporting country, owing to farmer-friendly policies.

She said that the PPP chairman had always stood by the farmers, advocating for timely procurement and fair prices.

Highlighting the impact of climate change, the PPP leader said that it posed a serious threat to every Pakistani farmer. She added that Bilawal Bhutto-Zardari emphasised the need for investment in sustainable and climate-resilient agriculture, envisioning a modern agricultural economy where small farmers could progress through technology and access to fair markets.

She said the PPP believed that insurance, credit access, and transparent governance were essential to protect farmers from the adverse effects of climate change.

Ms Marri appreciated the government’s decision to allow wheat procurement, terming it a longstanding demand of the PPP. She added that approving the support price for wheat was also a PPP demand; however, she noted that fixing the price at Rs4,000 instead of Rs3,500 per 40kg would have been more beneficial for farmers. She further said that reducing the income tax from 45 per cent to 15pc was an important relief measure for the farming community.

Published in Dawn, October 26th, 2025



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Tehran seeks to boost maritime connectivity with Pakistan

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ISLAMABAD: Pakistan and Iran have agreed to explore new avenues of cooperation in the blue economy by strengthening road, rail and maritime connectivity to facilitate regional trade and promote people-to-people contacts.

The understanding was reached during a meeting between Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry and Iran’s Minister for Roads and Urban Development, Farzaneh Sadegh. Both sides underlined the importance of regional connectivity for expanding trade, investment and transport links.

The ministers discussed initiatives to enhance maritime trade, develop port infrastructure and improve logistical routes connecting the two countries by sea, land and rail.

Ferry service proposed to facilitate pilgrims, promote religious tourism

Mr Chaudhry proposed launching a ferry service between Pakistan and Iran to provide an affordable and efficient transport option for traders and pilgrims. He said Pakistani authorities would welcome Iranian companies interested in operating such a service, noting that Iran’s lower fuel prices could help reduce fares.

He added that in 2025, about 60,000 to 70,000 Pakistani pilgrims travelled to Iran and Iraq by air, and a ferry service could significantly increase those numbers. The minister also said a centralised pilgrim management policy would be introduced next year, requiring all pilgrims to travel through registered tour operators to improve safety and coordination.

Mr Chaudhry noted that expanding religious tourism could bring economic benefits to both countries and called for cooperation to develop the necessary infrastructure.

The Iranian minister welcomed Pakistan’s proposals and said both countries’ ports could serve as gateways for regional commerce. She reaffirmed Iran’s commitment to enhancing port-to-port cooperation and exploring trade routes in the Arabian Sea and the Persian Gulf.

“The ports of both countries are key economic assets,” Ms Sadegh said. “By improving maritime and transport connectivity, we can open new opportunities for regional trade and economic cooperation.” Both sides reiterated their commitment to deepening collaboration in the maritime and transport sectors as part of broader efforts to promote the blue economy and strengthen bilateral relations.

Published in Dawn, October 26th, 2025



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