Since 2006, Pakistan Steel Mills (PSM) has consumed 25 billion rupees on average per annum as bailout package from various government offices. The bailouts for PSM in the past three years include: Rs10 billion bailout by ECC in Jan 2010; Rs25 billion by PM Raza Gilani in Jun 2010; Rs10 billion in Aug 2011; Rs11 billion by PM Raza Gilani in Dec 2011; Rs10 billion emergency grant by ECC in Jan 2012; Rs8.6 billion in Jul 2012; Rs3 billion bailout by PM Raja Pervaiz Ashraf in Aug 2012; Rs5 billion bailout by Minister for Production in Oct 2012; Rs14.8 billion bailout by PM Raja Pervaiz Ashraf in Jan 2013 and Rs 11 billion bailout by Caretaker PM in May 2013. All the given data is available online and published in newspapers.
I would like to request the current government of PML-N not to fall for the fake promises of improved production by PSM workers and not to allow any government bailout or special fund for PSM. If the organisation cannot sustain its own working expenditure then it should reduce its costs by reducing staff, until it can become self-reliant.
Why should the people of Pakistan pay for the laziness of PSM staff? As its rival Tuwairqi Steel Mills Limited (TSML) is supplying 20 percent of Pakistan steel mills by working at 85percent capacity, clearly showing that running a steel mill in Pakistan is not an unprofitable business.
SHAHRYAR KHAN BASEER
Peshawar