The opposition obviously sees this as an opportunity. Pakistan Steel Mill Approval was given to dismiss the employees of Pakistan Steel Mill. Pakpedia Pakistan's biggest free online encyclopedia, provide articles fully detailed & informative about pakistani personalities, national symbols, tourism, education, buisness, medical, sports, arts … Pakistan Steel Mills Pakistan Steel Mills Corporation (Pvt.)

He said salaries amounting to Rs55 billion were paid to around 9,000 employees of the non-operational mill. The decision regarding the fate of the lifeline of the country’s industrial growth was taken by ECC after years of deemed dysfunctional. Employees will be given a golden handshake and one month notice, the decision was taken in the ECC meeting chaired by Finance Advisor Dr. Abdul Hafeez Sheikh. Pakistan Steel Mills BR RESEARCH In a refreshing display of conviction, the PTI government has gone ahead with the decision to layoff 9,350 employees of Pakistan Steel Mills (PSM) against total severance of Rs20 billion, and approved the privatisation of the sick and dead entity. Announcing the ECC decision to sack over 9300 workers of the Steel Mills as part of the government plan to revamp the entity, the Federal Industries Minister Hammad Pakistan Steel Mills can rightly be called a stillbirth; a wish that never was: a case of chasing shadows: and a dream turned nightmare; not because it was destiny but for other factors. KARACHI: The issue of Pakistan Steel Mills is of paramount importance.The largest industrial mega-corporation has en on decline for the past many years. Its annual losses stood at Rs9.33 billion and it … The economic coordination committee has fired all Pakistan Steel Mills employees as they were observed doing … Location : 40 km East of Karachi: Production Capacity: 1.1 Million Ton of Steel … title: supreme court of pakistan Account No: 03-593-299999-001-4 IBAN: PK06SBPP0035932999990014 This giant industrial complex is fully owned by the government. THE foundation of Pakistan Steel Mills Corporation Limited was laid in Karachi on July 2, 1973. “The Pakistan Steel Mills is a huge burden on taxpayers,” he told a press conference. Limited, also known as Pak Steels, is a ding to Headquartered in Karachi, Sindh Province of Pakistan, the PSM is currently the largest industrial mega corporation, having a production capacity of 1.1, 5.0 million ton of steel and iron foundries. Hits: 1The Economic Coordination Committee (ECC) on Wednesday approved firing all employees of the Pakistan Steel Mills (PSM). Too many misleading analyses have been written on the Steel Mill’s affairs. Pakistan Steel Mills Corporation (PVT) LTD. Foundation Stone Laid on : 30th December, 1973: Foundation Stone Laid By: Zulfiqar Ali Bhutto (Shaheed) Prime minister of Pakistan. Announcing the ECC decision to sack over 9300 workers of the Steel Mills as part of the government plan to revamp the entity, the Federal Industries Minister Hammad Azhar said that with a view to revive the industrial unit, it was imperative to move away from an owner and operator mode to that of owner and policymaker and include the private sector in these efforts. Pakistan Steel Mills Discussion in 'Pakistan Economy' started by Zibago, Jun 11, 2020 at 11:08 AM. The Pakistan Steel Mills’ total losses and liabilities are estimated at Rs400 billion (Dh9.026 billion). Pakistan Steel Mills Corporation (PSMC) has lost and cost the government a huge amount of money so far.