Acting Pakistan Steel Mills CEO to take charge today

KESC restores power supply to mill’s residential areas.

Our Correspondent July 19, 2013
The country’s largest steel-making concern has to pay around Rs930m to KESC for power purchases. PHOTO: FILE

KARACHI: Export Processing Zone Authority (EPZA) Chairman Saadat S Cheema has been appointed acting chief executive of Pakistan Steel Mills following the resignation of CEO Major General (retd) Muhammad Javed on Thursday.

People associated with the steel mill and EPZA say that the acting CEO will take over responsibilities from Saturday morning. He will reach Karachi on Friday night from Islamabad.

PS officials say Muhammad Javed had given his resignation earlier, but it was accepted on Thursday. He had previously served at the steel mill from September 2006 to May 2008.

The news of Javed stepping down came after Karachi Electric Supply Company on Thursday cut off power supply to the steel mill over failure to clear huge unpaid bills.

However, according to steel mill officials, KESC has restored power supply to residential areas of the mill after receiving payment of Rs250 million. But power for the plant was still disconnected as all dues have not been paid.

Despite that, the all-important furnace of the steel mill is working 24 hours a day with the help of in-house power generation.

The country’s largest steel-making concern has to pay around Rs930 million to KESC for power purchases from March to April 2013. KESC wants the steel mill to clear all dues before restoring complete electricity supply.

Published in The Express Tribune, July 20th, 2013.

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