A commemorative postage stamp on the Opening of First Steel Mill of Pakistan at Chattogram, large port city on southeastern coast of East Pakistan, now Bangladesh :

Issued by Pakistan

Issued on Jan 7, 1969

Issued for : The East Pakistan Industrial Development Corporation achieved one of its most coveted goals when it established the first steel mill of Pakistan at Chittagong. This achievement is an important milestone in the story of Pakistan‘s onward march to the goal of self-sustained economic growth. The Mill was formally inaugurated by the President of Pakistan on August 24, 1967 and since then it has been producing various types of iron and steel materials. To commemorate this important achievement the Pakistan Post Office is issuing a commemorative postage stamp of 15 paisa denomination on the 7^th January, 1969.

Design : The format of the stamp is horizontal. The special feature of the stamp is a moss green colour decorative arch and a side panel at the right in medallion pattern. The arch is bridged at the bottom with the lettering of “Pakistan” in Bengali, Urdu and English in the same colour as the arch. The steel mill is shown through the arch in dark grey colour against a light blue sky, with three of its chimneys appearing in the middle of the arch. The caption “Pakistan’s First Steel Mill at Chittagong” appears in black at the top. The denomination figure ’15’ with ‘Paisa’ underneath appears in black at the bottom and the word ‘POSTAGE’ also in black, appears at the top of the panel.

Type : Stamp, Postal Used

Denomination : 15 Paisa

Colours : Black, Light Blue & Moss Green

Size of Stamp : 48 x 30.5 mm

Size of Print : 45.5 x 27 mm

Perforation Gauge : 13 x 13½ (c)

Quantity Printed : 15,00,000

Number of Stamps in each sheet : 50

Process of Printing : Litho Offset

Printers : The Pakistan Security Printing Corporation Ltd., Karachi

About : 

• The importance of setting up a Steel Mill, a basic industry to meet the requirements of many other industries, engaged the attention of planners in the Government soon after the establishment of Pakistan. The project was conceived of in the First Five-Year Plan. It was, however, taken up for implementation in the public sector during the Second Five-Year Plan period.
  
• The scheme on Chittagong Steel Mill, originally named Iron & Steel Works, was approved by the Government in April, 1963. With concerted efforts, the construction of factory buildings and erection of machinery were completed in 1966 and first batch of ingot was tapped on 1^st February, 1967 after trial runs. The total investment in the Mill is 335.7 million of which 171.1 million was in foreign currency. The recurring foreign exchange requirement of the Mill is estimated to be Rs. 79.1 million annually.
  
• When in full production the Mill will be able to produce 1,50,000 tons of ingot steel. And the ingot steel will be finished into such items as are presently most in demand as indicated below :-
  Bar and Shape – 43,000 to 45,000 tons
  Sheets
  Black Plain – 4,000 tons
  Galvanised Plain – 6,000 tons
  Galvanised Corrogated – 40,000 tons
  Plates – 15,000 tons
  Total :– 1,08,000 to 1,10,000 tons
  
• It will save Rs. 2.8 crores annually in foreign exchange at its existing capacity. By 1970 when the expansion which has been taken in hand will be completed, it will turn out another 100,000 tons of ingot steel raising the capacity of the Steel Mill to 250,000 tons of ingot steel per year. The foreign exchange saving by 1970 will be about Rs. 4.75 crores per annum. 

  Expansion

• In order to make the Mill more economic with diversification of finished products, expansion of Mill has envisaged to increase the capacity to 250,000 tons of ingot steel. The expansion scheme has been approved by EC of NEC on 14-9-66 and contracts for supply of plant and machinery has since been signed.
  
• The expansion work of the Mill is going on in full swing and when completed it is expected to yield the following additional products and thus the Steel Mill will meet about 35% of the demand of the province.
  Bar and Shape – 15,000 tons/year
  Sheet – 18,000 tons/year
  Plate – 47,000 tons/year
  
• Feasibility study to set up another Steel Mill plant for production of 500,000 tons of ingot steel on imported iron ore has been made. Work on the project is expected to commence during the Third Plan period.
  
• Issued by: The Director-General, Pakistan Post Office, Karachi.

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Major Exports of Pakistan 1967 Furnace No. 1 Pakistan Steel, Karachi Steel Authority of India Limited First Refinery in East Pakistan, Chittagong Pakistan on Decade of Development 1958-1968 Tata Steel