They want subsidies too: Employees urge govt to save PSM

The employees said that political interference had put PSM on the verge of collapse.


Our Correspondent April 03, 2012

KARACHI:


Employees belonging to different unions of the Pakistan Steel Mills (PSM) appealed to the Pakistan Peoples Party government on the eve of Zulfikar Ali Bhutto’s death anniversary to notice of the deteriorating situation at PSM.


The employees said that political interference had put PSM on the verge of collapse and alleged that the company’s board of directors had stopped following restructuring policies since 2008.  “The major reason of the crisis is lack of continuous supply of raw materials. A professional administration can save the PSM if it ensures our supply chain,” said Mohammad Tahir, convener of the action committee. Tahir claimed that PSM was working at just 14 per cent of its capacity level, adding that it would lead to the closure of the country’s biggest factory.  Rana Hasnain, an employee, said that PSM had outstanding debt of different institutions and banks.

Published in The Express Tribune, April 4th, 2012.

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