New PSM board on cards, Senate panel told

Committee on Industries informed that process of appointment of new CEO near completion

KARACHI:

 

The Senate Standing Committee on Industries and Production was informed on Wednesday that the appointment of the chief executive officer (CEO) of the Pakistan Steel Mills (PSM) and the constitution of new board of directors was on the cards as the process in this regard was near completion.

The committee met at the PSM with Khalida Ateeb in the chair. Committee members senators Fida Muhammad, Zeeshan Khanzada and Imamuddin Shouqeen as well as Ministry of Industries and Production Joint Secretary Naveed Ahsan were in attendance.

Members of a functional committee formed to run affairs of the PSM briefed the meeting about the rehabilitation of PSM, position of retrenchment of employees, privatisation plan, township area, encroachments and security issues.
Stressing the need for the revival of the PSM, the committee directed for streamlining the administrative affairs and resolving the issues of employees.

Khalida raised the issue of security and reported incidents of theft of installations.

The chairperson also expressed concerns over the performance of the security department that had more than 500 employees. The chair sought a comprehensive report on alleged theft incidents, causing losses to the tune of billions of rupees.

Senator Fida maintained that the largest industrial complex of the country had the resources, therefore, measures were required to revive its operations.

Expressing dissatisfaction with performance of the PSM management, he called for resolving the issues of all the employees on a priority basis.

The committee directed the PSM administration to submit the audit report for the year 2021-22, financial details of the revenue and expenditure, serving employees, privatisation procedure and matters of Township residential area.

The meeting was informed that despite operational closure, there were a total of 3,200 employees working in various functional sections of the industrial entity and the government was providing more than Rs110 million for their net salaries, while funds for retrenchment of employees had also been released by the government.

The committee was informed that the PSM was solely dependent on the national exchequer and all the expenses were borne by the government.

To generate revenue and industrial growth, over 1,500 acres of the PSM land was leased to the private sector for setting up industries in Bin Qasim Industrial Park that attracted FDI and joint ventures from abroad.

Senator Shouqeen noted that the board of directors was non-functional and its chairman was out of the country for over a year. He asked the management to submit a plan for the rehabilitation of PSM.

The employment opportunities could only be created through industrialisation as the government alone could not achieve the task, he stated, adding that the committee was willing to play a proactive role for the purpose.

The chair allowed the representatives of the employee, including officers and labourers, to present their issues and grievances before the committee. They said that employees were facing various issues, including low salaries, non-provision of annual increment, health, education and other facilities.

They also pointed out the retrenchment and reinstatement orders of the National Assembly's Special Committee, chaired by Abdul Qadir Mandokhel, were taken to courts by management though those could be settled through dialogue.

Senator Khalida assured the employees that they would be taken on board about decisions and the initiative for the rehabilitation of the PSM.

The committee was briefed that there were around 3,700 residential units of different categories in the Township area – the residential colony owned by the Steel mills – and those were provided to serving or retired employees of the PSM, while 345 units were rented out to private persons.

The committee was also informed that around 300 acres of the land was under encroachment and measures were taken to remove them while 95 acres were vacated from the squatters.

To generate revenue and industrial growth, over 1,500 acres of the PSM land was leased to the private sector for setting up industries in Bin Qasim Industrial Park that attracted FDI and joint ventures from abroad.

Senator Shouqeen noted that the board of directors was non-functional and its chairman was out of the country for over a year. He asked the management to submit a plan for the rehabilitation of PSM.

The employment opportunities could only be created through industrialisation as the government alone could not achieve the task, he stated, adding that the committee was willing to play a proactive role for the purpose.

The chair allowed the representatives of the employee, including officers and labourers, to present their issues and grievances before the committee. They said that employees were facing various issues, including low salaries, non-provision of annual increment, health, education and other facilities.

They also pointed out the retrenchment and reinstatement orders of the National Assembly's Special Committee, chaired by Abdul Qadir Mandokhel, were taken to courts by management though those could be settled through dialogue.

Senator Khalida assured the employees that they would be taken on board about decisions and the initiative for the rehabilitation of the PSM.

The committee was briefed that there were around 3,700 residential units of different categories in the Township area – the residential colony owned by the Steel mills – and those were provided to serving or retired employees of the PSM, while 345 units were rented out to private persons.

The committee was also informed that around 300 acres of the land was under encroachment and measures were taken to remove them while 95 acres were vacated from the squatters.