ILU representatives request for meeting with secretary of MOI&P to unfold the realities about PSM to save it from further financial bleeding

KARACHI, Dec 14 (SABAH): Insaf Labor Union (ILU), Pakistan Steel Mills has learnt that additional secretary of the Ministry of Industries and Production (MOI&P) will visit Pakistan Steel Mills tomorrow (Friday). The briefing is expected to cover the aspects including brief introduction of the representative departments; main functions and responsibilities; manpower details including the organizational structure; and impediments of problems being faced by the departments.

Letter has been sent to Additional Secretary, (Incharge) Ministry of Industries and Production Asad Rehman Gilani, Jameel Ahmed, Secretary Special Investment Facilitation Council (SIFC) and Ms. Sarah Aslam, Additional Secretary – II, Ministry of Industries & Production,

Government of Pakistan. The letter has been written by Convener Pakistan Steel Mills Corporation Stakeholders Group Mumrez Khan on Thursday.

Insaf Labor Union request for permission to counter this stereo type one sided briefing to set the record straight as it will help the government, MOI&P and SIFC in deciding the future of PSM for country economic growth and stability.

ILU representatives request for meeting with secretary of the Ministry of Industries and Production (MOI&P) to unfold the realities about PSM to save it from further financial bleeding. It would help in saving time and money being wasted by previous governments allegedly more than Rs 650 billions on account of losses, mounting payable debts liabilities during 2005-2023 and failed in privatization of profit earning PSM.

At present PSM management structure is non-existent as all posts of senior management like CEO, CFO, PEOs and GMS are vacant. Besides this its website “paksteel.com.pk” has not been updated after September 2020. PSM present BOD is non-professional and controversial due to pending inquiries of Federal Investigation Agency (FIA). Historically PSM remained a profit earning public sector organization from 1985 to 2008.