PSM theft scandal unearthed

KARACHI:

The Federal Investigation Agency (FIA) has exposed a major organised theft scandal involving assets worth billions of rupees at Pakistan Steel Mills, revealing an alleged nexus between insiders and external accomplices.

The investigation was launched following a complaint from the Ministry of Industries and Production.

Initial findings uncovered strong evidence of systematic theft, where valuable machinery, cables, scrap material, and other key infrastructure were being removed from the steel mills without any gate passes.