Pakistan Steel gets insurance money of more than Rs.310 Mn
As per details, the ship MV MIRACH left Indias loading port HALDIA and VIZAG on March 24, 2011 and was headed to Pakistan.
On its course, the ship struck a rock in the sea and eventually sank as the hit developed a big hole in the structure and water made way into the vessel.
It is pertinent to mention that Pakistan Steel always insures the raw material which is being imported. The iron ore on MV MIRACH was valued at almost Rs.313 Million.
The Acting CEO Pakistan Steel Wasif Mehmood soon after the incident got in touch with Chairman National Insurance Corporation and managed to get the claims.
Courtesy By Dawn.com