Pakistan’s Agha Steel setting up $42 mln plant at Port Qasim to meet CPEC demand

In this undated photo, a truck with a steel bar shipment is being unloaded at Agha Steel Industries in Karachi, Pakistan. (Photo courtesy of Agha Steel Industries)
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Updated 20 September 2020
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Pakistan’s Agha Steel setting up $42 mln plant at Port Qasim to meet CPEC demand

  • Agha Steel Industries Limited is setting up a Rs7 billion plant to enhance its efficiency and production capacity 
  • Hussain Agha plans to raise up to Rs5 billion through initial public offering in the first week of October 

KARACHI: Pakistan’s Agha Steel Industries Limited (ASI) plans to set up a Rs7 billion ($42 million) modern steel manufacturing plant at Port Qasim to meet the growing market demand as the country witnesses a flurry of construction activity under the China-Pakistan Economic Corridor (CPEC) and the prime minister’s flagship Naya Pakistan Housing Program.
“To finance the expansion project, we plan to raise Rs3.6 billion through initial public offering at the Pakistan Stock Exchange early next month,” Hussain Agha, chief executive of the company, told Arab New in an exclusive interview on Friday.
The company is importing Rs2.7 billion worth of plant and machinery.

Agha Steel plans to offer 120 million shares at a floor price of Rs30. According to its management, 75 percent of them — or about 90 million shares — will be offered through book building process while the remaining 25 percent will be issued to general public through retail offer at strike price determined by the book building process.

 




In this undated photo, Hussain Agha of the Agha Steel Industries Limited can be seen at his office in Karachi. The company plans to expand its existing production facility and hope to turn Pakistan into the region's steel making hub. (Picture courtesy of Hussain Agha)

“Potentially the amount may go beyond Rs5 billion,” he noted, as Pakistan’s stock market remains in a bullish mood and is said to be Asia’s best performing market at the moment.
The successful execution of project by March 2021 will allow the company to increase its melting capacity from 450,000 metric tons to 650,000 metric tons.
Agha Steel has also acquired the land right next to its current facility to install a new Micro Mill Danieli Rolling Mill, a super compact unit when compared to traditional mini mills, that occupies about 49 percent less space and gives about 23 hours of uninterrupted production.
“This technology guarantees 99 percent recovery,” Agha informed while explaining that the average yield from billet in Pakistan was 90 to 92 percent while the international standard was 97 percent.
“After the expansion, we will have one of the largest steel manufacturing facilities in Pakistan,” he said, adding that his company would produce all kinds of steel products required in the country, including those used in the construction of dams.
Pakistan’s steel sector is a major beneficiary of the ongoing construction of dams financed by China under the $60 billion mega CPEC program and the ruling Pakistan Tehreek-e-Insaf party’s low cost housing project.




In this undated photo, Hussain Agha of the Agha Steel Industries Limited can be seen at his office in Karachi. The company plans to expand its existing production facility and hope to turn Pakistan into the region's steel making hub. (Picture courtesy of Hussain Agha)

“We have made bids for five dam projects,” the ASI chief said, adding: “We expect that steel will be in a huge demand as the country constructs dams, mainline ML-1 train track and gets into coal and wind projects. Construction activity in Pakistan is booming.”
Pakistan’s steelmakers estimated that 2.17 million tons of steel would be required in 24 months for confirmed dam and Naya Pakistan housing projects. The major demand of about 1.5 million tons is estimated to come from seven hydropower plants, including Dasu and Diamer-Bhasha dams whose combined steel requirement is expected to be 900,000 metric tons.
Pakistan’s dam projects are being constructed and financed by China.
Agha said he could see a surge in demand after Prime Minister Imran Khan announced incentives for the construction sector.
“Last year, our sale to real estate developers was 12 percent,” he said. “Today, we are looking at more than 35 percent … which implies about 200 percent growth in this segment. The government’s policies are translating into ground realities, and the central bank is supporting the growth momentum.”
“If the government built 100,000 housing units, we believe it would generate a demand of about one million tons of steel only for these homes,” he added.
The company expects its revenue to increase to Rs26.18 billion this fiscal year (FY21) from Rs15.7 billion in the outgoing fiscal year (FY20). It forecasts its revenue to be Rs58.4 billion in FY24.
Agha Steel is also eyeing export of its steel products after satisfying the domestic demand which, at present, stands at about 5 million tons per annum.
“Exporting steel from Pakistan was a longtime dream,” Agha said, adding that his company could potentially become an exporter by 2023.
“Pakistan will become the epicenter of steel making in the region,” he told Arab News with conviction.


Pakistan’s Sindh province bans vehicles without Ajrak-inscribed plates on roads from Apr. 3

Updated 13 sec ago
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Pakistan’s Sindh province bans vehicles without Ajrak-inscribed plates on roads from Apr. 3

  • The provincial government introduced white registration plates that feature an Ajrak-inscribed design in July 2021, replacing the old, yellow plates
  • While some motorists adopted the new plates, owners of more than 3 million vehicles continue to use the old ones, the Sindh excise department says

KARACHI: The government in Pakistan’s southern Sindh province has banned vehicles without the ancient Ajrak-inscribed registration plates from plying the roads from April 3, the Sindh excise department said on Saturday.
Ajrak, a vibrant block-printed cotton cloth with striking crimson and indigo hues, is deeply ingrained in the Sindhi culture. Adorned with symmetrical patterns and sparkling white motifs, primarily stars, it is believed to have roots in the ancient Indus Valley Civilization.
The cherished fabric accompanies every stage of life in Sindh, from infant cradles to grand ceremonial occasions. Its versatility is reflected in its wide array of uses as a hammock for infants, bridal accessory, turban, shawl, bed cover, tablecloth, meaningful gift, and as a token of respect for honored guests.
The Sindh government had decided to replace the old, yellow-colored registration plates with white, Ajrak-inscribed plates in July 2021, keeping the province’s traditions in view. While some motorists adopted the new plates, owners of more than 3 million vehicles continue to use the old ones, according to the excise department.
“This will not only allow vehicles from Sindh to represent their province wherever they travel, but also showcase the region’s 6,000-year-old history of peace and civilization,” Shabbir bin Babar, a spokesperson of the Sindh excise department, told Arab News.
In December last year, the excise and taxation department had made it mandatory for all private and commercial vehicles to obtain the new plates.
The significance of Ajrak in Sindh’s culture can also be gauged from a bust of the Priest-King excavated at Mohenjo-daro, a UNESCO world heritage site and the largest settlement of the ancient Indus Valley Civilization that flourished around 2,500 BCE, that is currently housed in the National Museum of Pakistan in Karachi, depicting his one shoulder draped in a cloth resembling Ajrak.
Sindh Excise, Taxation and Narcotics Control Minister Mukesh Kumar Chawla told Arab News the initiative is aimed at celebrating the region’s rich culture.
“No weapons have ever been found among the artifacts unearthed at Mohenjo-daro, which sets it apart from other ancient discoveries worldwide,” he said.
“But we have the discovery of beautiful Ajrak, which signifies that the inhabitants of Sindh were always a peace-loving and civilized people.”
Chawla said Ajrak is an integral part of Sindh’s rich culture that reflects the region’s hospitality.
“The people of Sindh are considered some of the most hospitable globally,” he said. “[Ajrak is] a reflection of these traditions and their deep connection with the land.”


Death of Indian fisherman in Pakistan prison renews calls for release of detainees

Updated 3 min 14 sec ago
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Death of Indian fisherman in Pakistan prison renews calls for release of detainees

  • Babu Kana, 55, died of cardiac arrest in Karachi’s Malir prison this week, according to a Pakistani jail official
  • Of over 200 Indian prisoners, majority have completed their terms and 30 are suffering from various diseases

KARACHI: An Indian fisherman, who had been detained in Pakistan for nearly three years, died of cardiac arrest at Karachi’s Malir Prison this week, a jail official confirmed on Saturday, with the death renewing calls from human rights advocates in both countries for greater empathy and speedy procedures for the release of fisher folk who unintentionally cross maritime borders.
Indian and Pakistani fishermen are routinely detained by both maritime agencies for allegedly entering each other’s territorial waters. The poorly defined maritime boundary in the Arabian Sea, coupled with the limited navigational capabilities of many fishing boats, frequently leads to unintentional crossings.
Malir Prison, where 55-year-old Indian fisherman Babu Kana died on Thursday, has faced scrutiny in recent years over the deaths of several detainees due to health complications. In 2023 alone, two Indian fishermen, Balo Jetha and Soma Deva, died as their health deteriorated during incarceration.
Kana was detained by Pakistani authorities in 2022 after his boat strayed into Pakistani waters. Despite completing his sentence the same year, he remained imprisoned due to procedural delays in the deportation process, according to Malir Prison Superintendent Arshad Shah.
“His health suddenly deteriorated on Thursday and he was taken to the prison hospital where he passed away,” Shah told Arab News, adding that the inmate had no medical history.
The prison official said the Indian detainee had been granted consular access, but he couldn’t be deported due to a “delay in his verification from the Indian side.”
A spokesperson for the Indian high commission in Pakistan did not respond to Arab News’ request for comment as to what led to the significant delay that hindered Kana’s chances to reunite with his family.
More than 200 Indian fishermen have been languishing in Malir prison and a large number of them have completed their sentences, while 30 fishermen are suffering from different diseases, according to the jail superintendent.
“We are providing them best available treatment, but those who have completed their term should be taken back to their country,” Shah added.
Jatin Desai, an Indian rights activist who campaigns for the release of fishermen from both countries, said Kana was one of 217 Indian fishermen currently incarcerated in Pakistani prisons.
“According to our records, 216 Indian fishermen are still languishing in Pakistani jails, while 81 Pakistani fishermen are imprisoned in India,” Desai told Arab News over the phone from Mumbai.
He said the 2008 Agreement on Consular Access mandates the release and repatriation of people within one month of confirming their nationality and sentence completion.
“In Babu’s case, his consular access was granted, and his identity was confirmed,” Desai said, urging both countries to adhere to the agreement and expedite the release of all detainees.
Faisal Edhi, chairman of Pakistan’s Edhi Foundation charity, said delays in the repatriation of detained fishermen often extend even after a fisherman’s death.
“We have received the deceased’s body, but it will take over two weeks to send it back to India,” Edhi said, highlighting the plight of the families of these fishermen.
Edhi, who has been part of repatriation of nearly 400 Indian fishermen in recent years, urged both countries to immediately confirm the identities of fishermen and send them back to their countries.
Khizar Qazi, vice-chair of the Human Rights Commission of Pakistan (HRCP), said most of these fishermen come from poor families and, in most cases, they are the sole breadwinners of their families.
“Fishermen from both sides endure harsh jail conditions that severely impact their mental health,” Qazi told Arab News.
“Upon arrest, they should be promptly handed over. If necessary, they should be detained for a short term, and upon release, their boats should be returned – a practice we have yet to witness from either side.”


Pakistan reports first case of mpox virus this year

Updated 25 January 2025
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Pakistan reports first case of mpox virus this year

  • Authorities detected the virus in a 35-year-old man during screening at the Peshawar airport, shifted him to isolation ward
  • Since reporting first case in August, Pakistan has implemented screening protocols at all airports and border entry points

ISLAMABAD: Pakistan has reported first case of mpox virus this year in the northwestern Pakistani city of Peshawar, Pakistani state media reported on Saturday.
People who contract mpox get flu-like symptoms and pus-filled lesions. Children, pregnant women and people with weakened immune systems are at higher risk of complications from the infection.
Authorities detected the virus in a 35-year-old man during screening at the Peshawar airport, the Radio Pakistan broadcaster reported.
“As soon as the case was reported, the public health team reached Peshawar airport and shifted the patient to Police Services Hospital,” Ehtesham Ali, adviser to provincial chief minister on health, was quoted as saying.
Pakistan confirmed its first mpox case in August last year and has since implemented screening protocols at all airports and border entry points. The South Asian country reported at least eight mpox cases in 2024.
The World Health Organization on August 14, 2024 declared a global health emergency over the spread of a new mutated strain of mpox named clade I, which first emerged in the Democratic Republic of Congo and spread to several countries, leading to increased monitoring and preventive measures worldwide.
Pakistan has so far not reported any cases of the new mutation.


Pakistani security forces kill four militants in restive northwest

Updated 25 January 2025
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Pakistani security forces kill four militants in restive northwest

  • Pakistan has struggled to curb militancy in its northwest since a truce with Pakistani Taliban collapsed in 2022
  • In 2024 alone, the military reported that 383 Pakistani soldiers and 925 militants were killed in various clashes

ISLAMABAD: Pakistani security forces have killed four militants in an intelligence-based operation in the northwestern Khyber Pakhtunkhwa (KP) province, the Pakistani military said on Saturday, amid a surge in militancy in the region.
The operation was conducted in KP’s Khyber district, which border Afghanistan, on reported presence of militants, according to the Inter-Services Public Relations (ISPR), the Pakistani military’s media wing.
The deceased militants were actively involved in militant activities against security forces and killing of innocent civilians. Two other militants were injured in the gunfight.
“Sanitization operation is being conducted to eliminate any other Kharji [militant] found in the area,” the ISPR said in a statement.
Pakistan has struggled to contain surging militancy in KP since a fragile truce between the Pakistani Taliban, or the Tehreek-e-Taliban Pakistan (TTP), and the state broke down in November 2022. The TTP and other militant groups have frequently targeted security forces convoys and check-posts, besides targeted killings and kidnappings of law enforcers and government officials in recent months.
In 2024 alone, the military reported that 383 soldiers and 925 militants were killed in various clashes.
Saturday’s operation came two weeks after Pakistani security forces killed nine militants in two separate engagements in KP’s North Waziristan district.
Islamabad has frequently blamed the surge in militancy on Afghanistan, accusing it of sheltering and supporting militant groups that launch cross-border attacks. Afghan officials deny involvement and insist that Pakistan’s security issues are an internal matter of Islamabad.


Pakistan province orders comprehensive probe into alleged police harassment of Chinese nationals

Updated 25 January 2025
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Pakistan province orders comprehensive probe into alleged police harassment of Chinese nationals

  • Group of Chinese nationals filed petition in high court accusing Sindh Police of extorting, imposing unlawful restrictions on them
  • Sindh official says it si necessary for police to take measures to address potential security gaps to ensure Chinese nationals’ security

KARACHI: The home minister of Pakistan’s southern Sindh province on Saturday took notice of police harassment and extortion allegations leveled by Chinese nationals, directing authorities to launch a “comprehensive investigation” into the matter. 

Twelve Chinese nationals filed a petition in the Sindh High Court (SHC) December 2024 alleging they are being forced to pay bribes to police officers ranging from Rs20,000 ($71) to Rs50,000 ($179) for permission to leave their homes. It demanded a high-level inquiry into the involvement of police officers in their mistreatment. The SHC issued notices to the Sindh government, Pakistani foreign ministry and China’s missions in Pakistan on Friday, seeking their response within four weeks. 

A significant number of private Chinese investors have arrived and established businesses with local partners in Pakistan since the China-Pakistan Economic Corridor, a multi-billion-dollar infrastructure network of roads, energy and railways projects, was launched in 2013. 

In Sindh, the provincial government has established a Special Protection Unit (SPU) within the provincial police force to ensure the security of Chinese nationals, who have been under threat from separatist groups operating in neighboring Balochistan province. These groups have also carried out attacks on Chinese interests and citizens in Karachi, the capital of Sindh and commercial hub of the country.

“Sindh Home Minister Zia-ul-Hassan Lanjar has taken notice of the Chinese investors’ decision to approach the Sindh High Court, issuing instructions to the IGP Sindh to immediately appoint a senior inquiry officer for a comprehensive investigation into the matter,” the Sindh home ministry said in a statement. 

As per the statement, Lanjar said the provincial government is committed to ensuring the security of Chinese nationals according to the set standard operating procedures. 

“Therefore, it must be ensured that at the provincial level, the “foolproof security” of Chinese nationals involved in both CPEC and non-CPEC projects is a joint responsibility of the Sindh government, Sindh Police and local sponsors or hosts,” the statement said. 

This is aimed at further strengthening the unwavering trust of Chinese investors in the Sindh government and Sindh Police.

Lanjar stressed that it is the Sindh government and provincial police’s goal to facilitate and provide security to Chinese investors through mutual cooperation. He admitted, however, that it is also important that sponsors and SPU officers take steps to monitor security measures. 

“Additionally, it is necessary to address any potential gaps, shortcomings, or deficiencies in the security measures for Chinese nationals,” the statement said. “Implementing the measures outlined by law and SOPs is critical to eliminating any security gaps.”

Lanjar said that if Chinese nationals face security-related complaints, senior officers must not only review the situation but also ensure “a prompt resolution, as Chinese citizens turn to the Sindh Police for assistance regarding security concerns.”

Amid the surge in attacks on Chinese nationals in Pakistan, Beijing has repeatedly urged Islamabad to ensure protection for its citizens living and working in the South Asian country.

A suicide blast claimed by the separatist Balochistan Liberation Army (BLA) killed two Chinese nationals in Karachi in October, while five Chinese workers were killed in a suicide bombing in March 2024 in northwest Pakistan.

Pakistan says attacks on Chinese nationals are an international conspiracy to harm friendly ties between Pakistan and China.