Considered as a white elephant; the biggest burden on Pakistan’s economy
KARACHI: The issue of Pakistan Steel Mills is of paramount importance. The largest industrial mega-corporation has en on decline for the past many years. It’s considered as a white elephant; the biggest burden on Pakistan’s economy. The government is neither privatising it nor providing enough financial assistance to stabilise it. The company requested a bailout plan of Rs12 billion to prevent its closure but the bailout plan was dismissed by the government. Around 25,000 workers of the Steel Mills, which means 25,000 families, are in a miserable condition; but who cares? The workers there are being paid their salaries with the gap of five to six months, due to which they are unable to financially support their families which is affecting their children’s education. The government does not seem to be looking towards a solution to this matter with sincerity. I request to the authorities to take action and try to resolve the issue as soon as possible. The government should support the workers or at the least pay their salaries on time.
One wonders why most public-sector entities in our country are suffering huge losses. The government gives them bailout packages. This further encourages the corrupt elements to engage in corruption. They think they will go on siphoning of money and the government will go in providing bailout packages. Our whole system is being ruined by the scourge of corruption. We must collectively combat corruption, otherwise this demon will finish off all of us.
Shamama Tariq
Published in The Express Tribune, October 21st, 2019.
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