Pakistan Steel Mills (PSM) dismissed an additional 1,350 employees on Tuesday in an effort to ease its financial burden. According to a PSM spokesperson, a list of the terminated employees was prepared, including workers from various departments such as drivers, firemen, and operators. Termination letters have been sent to the affected employees at their residences. … Read more
The government is developing a strategy to revitalize the Special Economic Zone (SEZ) by planning to hand over Karachi Industrial Park (KIP) to China, as reported by The News on Sunday. A senior government official informed the publication that KIP, one of the nine SEZs developed across Pakistan under the China-Pakistan Economic Corridor (CPEC) framework, … Read more
ISLAMABAD: The federal government has decided to shut down Pakistan Steel Mills (PSM), a state-owned enterprise that has been suffering heavy losses for years. In a statement, the Secretary of Industry and Production said that the Sindh government has been offered 700 acres of PSM’s 19,000-acre land to establish its own steel plant. Last year, … Read more
KARACHI: Prime Minister Imran Khan is a staunch believer in meritocracy. Giving an example he said, “Australia is the most successful team as their system is based on recognising talent. Pakistan has the best cricket talent, but does not come to the fore because there isn’t a system of merit”. An effort was also made … Read more
ISLAMABAD: The 5th Privatisation Board meeting on Friday reviewed the measures to revive the Pakistan Steel Mills (PSM) and highlighted a few corporate actions, which were to be performed by the stakeholders, including the Ministry of Industries and Pakistan Steel Mills. The meeting chaired by the Federal Minister for Privatisation and PC Board Chairman Mohammedmian … Read more
ISLAMABAD: The Privatization Commission headed by the Federal Minister for Privatization has approved the transaction structure for the privatization of steel mills. According to details, regarding the privatization of steel mills, the Steel Mills Board headed by Federal Minister for Privatization Muhammad Mian Soomro reviewed two options. The board decided to sell shares by making … Read more
Chief Justice Gulzar Ahmed while expressing anger over the management of Pakistan Steel Mill said that not all the employees can be fired, the plan made regarding the steel mill is just a disaster. According to the details, the Supreme Court on Thursday heard a case related to Pakistan Steel Mills. During the hearing, the … Read more
A Federal Cabinet meeting will be held to discuss the steps taken by the government to curb the spread of the novel coronavirus and the fate of the employees of the Pakistan Steel Mills employees. According to the details, The federal cabinet will be briefed on the preparations for the federal budget and its initial … Read more
The Economic Coordination Committee (ECC) has given in-principle approval to give Golden Handshake to 9100 employees of Pakistan Steel Mills. A meeting of the Economic Coordination Committee was held in Islamabad under the chairmanship of Finance Advisor Hafeez Sheikh. According to the details, in the meeting, the ECC gave in-principle approval to give Golden Handshake … Read more
Apex Court on Thursday demanded a response from the federal government on the privatization of Pakistan Steel Mills. A three-member bench led by Chief Justice Gulzar Ahmed heard the case, pertaining to the privatization of Steel Mills. The chief justice said the mills closed since 2015 and the employees still receiving their salaries, adding that … Read more
Supreme Court barred federal government from selling land of Pakistan Steel Mills. According to the details, the court also dismissed the government’s petition against the order to freeze the accounts of the Ministry of Industry and Production. while givivg the remarks Justice Gulzar said that Pakistan Steel Mills was a huge company but people filled … Read more
Prime Minister Imran Khan has said government is making every possible effort to revive Pakistan Steel Mills and making it a profitable organization. He was chairing a meeting in Islamabad on Friday regarding revival of Pakistan Steel Mills. The Prime Minister said efforts are being made to end burden on national exchequer by reviving the … Read more
