PSM gives Rs680mn cheques to KESC


After successful talks with the Karachi Electric Supply Company (KESC), Pakistan Steel Mills (PSM) Chief Executive Officer (CEO) Saadat Cheema has managed to restore 132 KVA high power supply to the mill.
At least 25 cheques amounting to Rs 680 million have been provided to the KESC administration, with the hope that the power would be restored immediately.
The PSM CEO said that all efforts would be made to increase the production capacity (CAPU) of the mill that would hopefully become the viable and profitable entity that it once was.
Moreover, he said Pakistan Steel was the mother industry of iron and steel and enjoyed the status of backbone in the national economy.
He further said the mill had the potential to stand back on her feet and the employees of PSM were its greatest asset. The CEO also assured that the salaries of all the 16,200 employees would be paid before Eidul Fitr.
Later, the Cheema proceeded to Islamabad to take up the case of Pakistan Steel with the federal government.