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The engineering goods industry is recognized world over as most critical for the development of a self reliant and vibrant economy.This industry, however, depends heavily on basic metals, specially Iron & Steel as resource inputs.The Iron & Steel industry, therefore holds the key for sustained growth of the engineering sector and hence for development of the economy as a whole. The importance of the national assets such as PAKISTAN STEEL, which is determined on its strength and ability to sustain the national growth rate, need not be emphasized. If one desires to find out what PAKISTAN STEEL has done for the country, one will have to venture back in time, into the early 70's when PAKISTAN STEEL was only a dream on paper.