PSM employees: Ministry asks ECC to release 7-month pay

Economic Coordination Committee to meet on April 27

Our Correspondent April 26, 2016
Economic Coordination Committee to meet on April 27. PHOTO: FILE

ISLAMABAD: The Ministry of Industries and Production has asked the Economic Coordination Committee (ECC) to approve the release of Rs2.7 billion for paying seven-month salaries of the employees of Pakistan Steel Mills (PSM).

The ministry had recommended to the Privatisation Commission to send a summary to the ECC, scheduled to meet on April 27, for the payment of salaries for the period December 2015 to June 2016 to the PSM employees as recommended by the mill’s management due to the arrival of Ramazan and Eid festival.

In a statement, the ministry said the ECC had directed that the PSM board of directors should rationalise the day-to-day essential administrative expenses of the mill. The board, however, could not meet and is now expected to hold a meeting on April 27.

Federal Industries and Production Secretary Khizar Hayat Gondal said, “We fully understand the difficult situation being faced by thousands of PSM employees.

“We are extremely sensitive to the wellbeing of employees of all state-owned enterprises listed under the privatisation programme, as we fully understand the financial and social implications for the families who are not receiving salaries for months. We are, therefore, doing our best to provide the employees maximum protection.”

Published in The Express Tribune, April 26th,  2016.

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1984 | 7 years ago | Reply Why would workers be paid 6 months in the arrears?
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