The Senate Standing Committee on Industries and Production’s “misleading claims” of cartelization against the steel industry have been refuted by the Pakistan Association of Large Steel Producers (PALSP).
The PALSP claimed in a letter to the Senate Chairman and the Chairperson of the Standing Committee on Industries and Production that such statements are motivated by private interests and could harm the long steel sector, which is the country’s economic engine and is undergoing the most challenging times.
The Association expressed shock at the fact that some Senators are jeopardising the whole steel industry by making inaccurate remarks.The Association claims that because there are so many competitors in the steel industry—over 400—the market is fragmented and there is essentially no potential of cartelization.
