Pakistan Steel Mills crisis are deepening further. To make the matters worse, even the banks have refused to give loans to them. The good news is that in order to keep the entity operational, the government has decided to give a loan of Rs6 billion. The problem however, lies in the mismanagement that specifically rose during the tenure of the present government. We sincerely laud the current efforts of the finance minister, Hafeez Sheikh, in granting loan for restructuring to PSM, but now what should be stressed upon is the work on an all-encompassing business plan in order to make up for the huge losses.
Syed Abdullah Jan
Lahore
