KARACHI: Karachi Electric Supply Corporation (KESC) on Monday agreed to restore electricity to Pakistan Steel Mills (PSM).
The announcement was made by Chief Executive Officer PSM Saadat Cheema while talking to newsmen outside KESC head office after talks with its management. He further stated that the talks were held in a very cordial environment in which KESC agreed to restore electricity from today. As part of the agreement PSM agreed to pay Rs10 million daily to KESC until dues are cleared.
Cheema assured his staff that the salaries will be given before Eid while PSM will put up a case with federal government for immediate release of Rs4 billion to cater to the needs of the corporation. Cheema thanked media for playing a positive role during the current crises, adding it was not possible to resolve the issue without sincere and selfless support by it.
Published in The Express Tribune, July 23rd, 2013.
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Immediate release of 4 billion tax rupees to feed the non performing PSM!! What a joke
" PSM will put up a case with federal government for immediate release of Rs4 billion to cater to the needs of the corporation." Actually the word corporation should be substituted by corruption . There shall be better chances for the release of fund.