Denying allegations: Steel mill denies defaulting on bills

KARACHI: Pakistan Steel Mills (PSM) on Friday refuted the claims that the company defaulted on the bills of the Karachi Water and Sewerage Board (KWSB). A PSM spokesperson said that portraying the company as a nonpayer of KWSB bills is baseless and unjustified. He said that despite facing financial constraints PSM was regularly paying off the accruals to the KWSB on a monthly basis on the account of monthly statements. He said that as per the summary of the Sind High Court, KWSB is itself is a defaulter of Rs350million. The spokesperson said that on the account of June and July 2012 monthly bills, PSM has already paid Rs20 Million in June 2012, and Rs30 Million in July 2012 to the KWSB, and after the deduction of the net amounts of bills and dues the KWSB still owes Rs150million to the PSM.

Published in The Express Tribune, August 25^th, 2012.