Acting CEO of PSM appointed

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

ISLAMABAD: The government has given the acting charge of chief executive officer (CEO) of Pakistan Steel Mills (PSM) to a joint secretary of the Ministry of Industries and Production.

In this regard, the Ministry of Industries has issued a notification.

Ministry of Industries Joint Secretary Naeem Jan will look after the affairs of PSM till the appointment of a regular new head of the mill. According to the notification, he will supervise day-to-day affairs of the mill and attend meetings of its board of directors on behalf of the Ministry of Industries.

PSM has been closed since 2015 – the year when Pakistan Muslim League-Nawaz (PML-N) government was in power. Since then, the government has been paying salaries of the mill’s employees and its losses have touched Rs212 billion.

The present Pakistan Tehreek-e-Insaf (PTI) government is working on different options to revive the bleeding mill. An expert group has been formed to suggest ways how to help the mill stand on its feet and start turning in profit.

A couple of days ago, the secretary of the Ministry of Industries and Production informed the Senate Standing Committee on Industries that the National Accountability Bureau (NAB) had closed investigation into the shutdown of PSM.

He disclosed this during a comprehensive briefing on the initiatives taken for the revival of the steel mill.

Published in The Express Tribune, February 22^nd, 2019.

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