> Pakistan's steel manufacturers say the industry on brink of collapse / 338V8YD
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Pakistan's steel manufacturers say the industry on brink of collapse / 338V8YD
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Pakistan's steel manufacturers say the industry is on the verge of collapse, warning of dire consequences for the country's economy.The national body representing steel producers says more than 200,000 jobs are at risk, with millions more threatened by unemployment in sectors that rely on their input, including construction and cement-making.
Cash-strapped Pakistan and the IMF on Thursday failed to reach a clear agreement to unlock crucial bailout funds on the last day of urgent talks in the country, local media said. Many key inputs in steel production remain stuck at the port, with dwindling foreign reserves available to pay for imports. IMAGES AND SOUNDBITES