{"id":91633,"date":"2023-01-20T12:45:42","date_gmt":"2023-01-20T07:45:42","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=91633"},"modified":"2023-01-20T12:45:44","modified_gmt":"2023-01-20T07:45:44","slug":"steel-shortage-coming-arif-habib-ltd","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/steel-shortage-coming-arif-habib-ltd.html","title":{"rendered":"Country-wide steel shortage likely in coming days: Arif Habib Ltd"},"content":{"rendered":"\n<p>Islamabad: Arif Habib Limited (AHL) \u2013 a brokerage house \u2013 stated in a report that a country might face a steel shortage in the coming days as the profitability of the construction sector will adversely be affected due to the short supply of dollars and limitations to secure Letters of Credit (LC) for import of raw materials, according to news published in the leading newspaper on January 17.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/steel-bar-prices-pakistan-high.html\" target=\"_blank\" rel=\"noreferrer noopener\">Steel bar prices in Pakistan hit all-time high<\/a><\/p>\n\n\n\n<p>As per the details, AHL highlighted that due to the ongoing shortage of US Dollars in the country, the State Bank of Pakistan (SBP) took various administrative measures including a ban on certain imports, limits on LC opening, curbs on dollar repatriation to keep dollar outflows in check and minimise the current account deficit. Despite the SBP\u2019s order to ease the ban on imports, it is not being implemented in spirit.&nbsp;<\/p>\n\n\n\n<p>The brokerage house stated that they expect the SBP to ease the administrative measures as they will pose a threat to the local construction and allied industry in near future. It was highlighted that the <a href=\"https:\/\/www.zameen.com\/news\/steel-prices-hike-fourth-time.html\" target=\"_blank\" rel=\"noreferrer noopener\">local steel industry<\/a>, especially the graded steel industry, will be affected to a greater extent as it relied on the imports of scrap (for the production of long steel) and hot rolled coil (raw material for flat steel). The report stated that the restriction on LC opening poses dire consequences for the availability of steel.\u00a0<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/domestic-steel-prices-5th-hike-30-days.html\" target=\"_blank\" rel=\"noreferrer noopener\">Domestic steel prices see 5th hike in 30 days<\/a><\/p>\n\n\n\n<p>In the report, AHL disclosed that local players will run out of steel and might be forced to halt operations if LCs are not opened within 30 days. It will have varying impacts on the construction industry. Without steel rebars, construction activities will have to face hurdles and delays, and reduced demand for cement and other industries including cable, clays, glass, tiles, PVC, appliances, pipes, etc.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: Arif Habib Limited (AHL) \u2013 a brokerage house \u2013 stated in a report that a country might face a steel shortage in the coming days as the profitability of the construction sector will adversely be affected due to the short supply of dollars and limitations to secure Letters of Credit (LC) for import of raw materials, according to news published in the leading newspaper on January 17.\u00a0 Read: Steel bar prices in Pakistan hit all-time high As per the details, AHL highlighted that due to the ongoing shortage of US Dollars in the country, the State Bank of Pakistan (SBP) took various administrative measures including a ban on certain imports, limits on LC opening, curbs on dollar repatriation to keep dollar outflows in check and minimise the current account deficit. Despite the SBP\u2019s order to ease the ban on imports, it is not being implemented in spirit.&nbsp; The brokerage house stated that they expect the SBP to ease the administrative measures as they will pose a threat to the local construction and allied industry in near future. It was highlighted that the local steel industry, especially the graded steel industry, will be affected to a greater extent as it&hellip;<\/p>\n","protected":false},"author":83,"featured_media":63768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15013],"tags":[56006,45104],"persona":[],"class_list":{"0":"post-91633","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-construction","9":"tag-country-wide-steel-shortage-likely-in-coming-days-arif-habib-ltd","10":"tag-steel-industry","11":"cat-15012-id","12":"cat-15013-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Steel shortage likely in coming days: Arif Habib Ltd.- Zameen News<\/title>\n<meta name=\"description\" content=\"The country might face steel shortage in the coming days, according to Arif Habib Limited. Read about how it will impact the industry here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/steel-shortage-coming-arif-habib-ltd.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Steel shortage likely in coming days: Arif Habib Ltd.- Zameen News\" \/>\n<meta property=\"og:description\" content=\"The country might face steel shortage in the coming days, according to Arif Habib Limited. Read about how it will impact the industry here.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/steel-shortage-coming-arif-habib-ltd.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-20T07:45:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-20T07:45:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Iqra Masood\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Iqra Masood\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Steel shortage likely in coming days: Arif Habib Ltd.- Zameen News","description":"The country might face steel shortage in the coming days, according to Arif Habib Limited. 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