Karachi:
The members of a Senate panel have urged the government to accelerate its decision on the future of Pakistani steelworks (PSM), which has been non -functional for years.
The Senate’s permanent committee on industries and production went to PSM on Saturday under the chairmanship of Senator Aon Abbas Buppi.
The committee visited various factories within the PSM and examined the current debt challenges, delays and payment expenses of the organization, and listened to the concerns of employee unions.
They had discussions with the president of the PSM, Asad Islam Mahni and other civil servants on the main problems with which the PSM is confronted. During a briefing, Mahni informed the committee that, by 2024, the factory had accumulated a total loss of 600 billion rupees and paid 20 billion rupees per year in interest on current loans.
He said that mills owe 89 billion rupees to the National Bank of Pakistan (NBP) because most NBP loans have been used to cover expenses, including wages of 934 current employees.
The officials told the committee that the government is considering two projects simultaneously:
One implies the rebirth of the factory using the Russian company Industrial Engineering LLC, which would use the arc and the high stoves for catering.
The other project considers that the drop in the mill has appointed an examination cabinet to assess its viability.
The Committee also met representatives of the workers’ union, who informed them of the difficulties facing current and licensed employees. To respond to their concerns, the Committee has trained a subcommittee responsible for taking discussions on the management of workers’ complaints.
The Senate Committee appreciated the current management efforts to reduce PSM spending.
However, he expressed his anger at continuous flight incidents within the organization and asked the authorities to assess the losses suffered by these activities. He also recommended accelerating the elimination of non -functional or expired assets that are no longer operational.
The committee was informed of the arbitrary allocation of PSM lands by the Sindh government a few years ago. He expressed his concern about the allocation of 1,370 acres and 400 acres of undisputed land to local villages, declaring that these allocation cases should be returned to the Common Interest Board (CCI).
The Committee visited various factories in Pakistani steers and recommended that the government accelerate its decision on the future of the institution.
