PSM weeds out 680m in cheques for power restoration to KESC


After successful talks with the Karachi Electric Supply Company (KESC), the Pakistan Steel Mills Chief Executive Officer (CEO) Saadat Cheema managed to restore 132 KVA high power supply to the mill. At least 25 cheques amounting to Rs 680 million were provided to the KESC administration by the PSM in anticipation of immediate power restoration. Cheema said that all efforts would be made to increase the production capacity (CAPU) of the mill in order to transform it to a viable and profitable entity. Moreover, he said that PSM was the ‘mother-industry’ of iron and steel and held the status of the ‘backbone of the national economy’. The mill possessed immense potential to get back on its feet and the employees of the PSM were its greatest assets, he added. The CEO also assured that the salaries of all the 16,200 employees would be paid before Eid-ul-Fitr.