Aisha Steel
Pakistani steel company
From Wikipedia, the free encyclopedia
Aisha Steel Mills Limited (ASML) (Urdu: عائشہ اسٹیل) is a Karachi-based steel manufacturing company with production capacity of 220,000 metric tons per year.[1] It is owned by Arif Habib Group.[1]
| |
| Company type | Public |
|---|---|
| PSX: ASL | |
| Industry | Steel |
| Founded | 2005 |
| Headquarters | Karachi, Pakistan |
Area served | Pakistan |
Key people | Munir Ahmed (CEO) |
| Products | Cold rolled steel coils and sheets |
Number of employees | 753 |
| Parent | Arif Habib Group |
| Website | aishasteel |
Its plant is located at Bin Qasim, Karachi and produces at a capacity of 220,000 metric tons per year.[1]
History
Aisha Steel Mills was founded in 2005 as a joint venture between Arif Habib Group, Metal One Corporation, a subsidiary of Mitsubishi and Universal Metal One, one of the world's largest steel trading companies.[2]
In 2012, it had an initial public offering (IPO) and was oversubscribed by 2.7 times.[3] In the same year, the company started commercial operations.[2]
In 2017, under China-Pakistan Economic Corridor (CPEC) agreement between the governments of China and Pakistan, Aisha Steel Mills like other major steel producers in Pakistan, is preparing to meet the expected increase in steel supply demands related to the upcoming infrastructure projects in Pakistan.[4][5]
The Competition Commission of Pakistan (CCP) levied substantial financial penalties on two major flat steel producers, Aisha Steel Mills Limited (ASML) and International Steels Limited (ISL), for engaging in cartelization and price-fixing in violation of Section 4 of the Competition Act, 2010. The CCP's final order, issued on October 8, 2025, imposed a fine of Rs. 648.3 million on Aisha Steel Mills and Rs. 914.2 million on International Steels for coordinating pricing strategies, fixing flat steel prices, and exchanging sensitive commercial information over a three-year period, from July 2020 to December 2023. The investigation found that the collusion resulted in an average price increase of 111% for flat steel products, and the penalties imposed were equivalent to 1% of each company's annual turnover for the financial year 2021-2022.[6]