This was announced by the E-commerce Gateway Pakistan in a statement here on Monday. It pointed out that the metal and steel industry is recognised in the world over as the critical one for the development of self-reliant and vibrant economy.
This industry, however, depended heavily on basic metals, especially iron and steel as resource inputs.
The iron and steel industry, therefore, holds the key for sustained growth of the engineering sector and hence for development of the economy as a whole.
The statement added that Pakistan's per capita steel consumption levels are below the developing countries of the region.
Therefore, there is a significant growth potential for the country's demand for steel over both the medium and the long term.
The total domestic steel production in 2004 was estimated at 3.0 million tons, as compared to total consumption of approximately 4.2 million tons.
The shortfall in domestic supply is met through import. This domestic demand-supply imbalance effectively provides foreign investor with a captive market for its entire production. The Metal and Steel Asia International Exhibition- and conference aims to further the developmental process of this very industry. This exhibition would serve as a comprehensive showcase of the latest in technology, equipment and machinery as well as allied services, while providing investors with a definite outlook of the regional metal industry and an opportunity to meet their prospective counterparts and business partners.
Metal and Steel Asia is being organised by E-commerce Gateway limited and Jamal's Yellow Pages of Pakistan in collaboration with the Minister of Privatisation and Investment, Ministry of Industries and Production, Engineering Development Board, Pakistan Steel and Peoples Steel Mills.