NAB to probe into Pakistan Steel Mills downfall

Says those responsible will be identified and placed on no-fly list

ISLAMABAD: The top graft buster has decided to initiate an inquiry into the reasons which led to the dilapidated state of affairs at the country’s largest steel manufacturing facility, the Pakistan Steel Mills (PSM), as it vows to identify those responsible for loss to the national kitty.

According to a statement issued on Friday, the National Accountability Bureau (NAB) has said it will recommend placing the names of all former and current officers of the PSM on the Exit Control List (ECL) during the investigation process in a bid to ensure no one responsible for the situation could escape.

Recently, Chairman of the National Assembly's Standing Committee on Industries and Production Asad Umar had written a letter to NAB Chairman Justice (retd) Javed Iqbal and demanded an inquiry to ascertain the real causes behind the PSM’s abysmal performance.



In his letter, Umar had said the national exchequer suffered losses worth Rs1.5 billion in a month on account of the PSM. “Neither the PSM employees are getting salaries nor the retired staffers are receiving pension money,” he had written.

Acknowledging that the standing committee had also requested it to take action in this regard, the NAB said it would find out reasons behind the loss of nation’s money and all those responsible would be identified.

This month, the government announced that it would issue two-month salary to the PSM employees.