Pakistan steel mills

Report reveals NHA tops list of these state-owned firms

ECC rejects demand for increase in wheat support price to Rs4,000 per 40 kg

Process of privatising loss-making entity scrapped

Fawad says PSM is a dead asset; DISCOs’ one-step privatisation no longer possible because of various factors

Deficiency can be traced to institutions driving economy that are run by bureaucrats

PAC panel urged not to fix timeframe for recovery of land

Agency writes letter to mills' focal person Riaz Hussain Mangi

Privatisation minister says leadership working to turn SOEs into profit-making entities

Senate panel told targeted subsidy will be launched at Utility Stores

Takes first major step towards sale of country's largest industrial unit

Sindh Minister for Information Syed Nasir Hussain Shah addressed a press conference with PSM

Committee members say incumbent regime rendering people jobless

Subsidiary of the industrial unit will be set up for transaction

Successive govts have failed to come up with viable plan to stop, reverse losses

Audit report says heavy billing incurred since 2015 despite zero production

PPP chief vows to bring sacked employees back to work; PTI minister blames PPP, PML-N for PSM closure

Privatisation Commission overrules objections raised over proposed transaction structure

Decides to privatise steel mill through wholly owned subsidiary

Rs34b paid under head of salaries since June 2013

Union members term the move ‘unjust, inhumane’, social activists to challenge it in court

PTI govt to run PSM on public-private partnership mode

Bench states accountability court does not have power to remove accused's name from PSM reference

Orders NAB to submit reply on bail plea of accused in illegal land allotment case within 10 days

Counsel claims PTI govt did not make any effort to run the steel mills

PM's aide admits govt could not do well on privatising state-owned enterprises, pension reforms

Saeed Ghani alleges PTI government eyeing 19,000 acres of steel mills land worth billions of rupees

Industrial unit owes Rs22b to SSGC; Rs36.42b to NBP, SC told

PTI refused to let others consider such a step and is now hoping people forget its own broken promises

Mills tells apex court it decided to lay off 7,784 employees on April 15

Upper house passes resolution against Indian atrocities in IOJ&K

Police arrest protesting union leaders after ECC decision to lay off 9,350 employees

Steel mill employees will get financial package of around Rs2.3 million each, says industries minister

Each of 9,350 employees to get Rs2.3 million on an average

Sindh govt, Pakistan Steel Mills wrangling over land reserved for burying coronavirus victims

PSM says land allotted for Covid-19 graveyard in PSM Township does not belong to Sindh

CJP orders government to lay off all employees, and appoint new people if it wants to keep PSM running

Senate panel notes one cabinet member is facilitating steel scrap smuggling

PSM can be upgraded to production capacity of 3-5m tons per annum

Appointment of advisers, settlement of liabilities and assets to take six months

PAC sub-committee expresses concerns over massive dues accumulated by the two entities

Govt efforts to hire financial adviser get subdued response

It will create more panic among investors, bring more discredit to govt

Move comes just days ahead of visit of foreign investors interested in the plants

Despite IMF’s admission that structural weaknesses remained largely unaddressed in the past programmes

PSM has a major role to play in Pakistan’s progress particularly in the context of CPEC

Expert group puts the mill’s restructuring cost at $1.04 billion which government alone cannot sustain

Adviser says various options could be explored to run the dead mill

Naeem Jan will look after day-to-day affairs of PSM

ECC forms task force to boost manpower export, which has dipped 60% in 3 years

On the face of it, the plan looks neat and plausible but questions remain about how such a fund would receive funding