Parliamentary Secretary for Industries and Production Rao Muhammad Ajmal Khan on Wednesday informed the National Assembly that the National Accountability Bureau (NAB) was conducting inquiry into Rs 26 billion misappropriation in general provident and gratuity funds of Pakistan Steel Mills (PSM) in 2009-10.
Responding to a calling attention notice raised by Maulana Muhammad Gohar Shah and others regarding non-increase in the salaries of the PSM employees and misappropriation in general provident fund, he said under the Companies Act 1984, respective Board of Governors (BoG) was responsible for any such wrongdoing.
Rao Ajmal said the PSM was a national asset but unfortunately it had been closed for the last eight months. A sum of Rs 24 billion was provided to the PSM during last two years for paying salaries to the employees, he added. He said the Economic Coordination Committee (ECC) had approved to pay two-month salaries of December and January to the employees. “February and March salaries will be paid next month,” he added.
Rao Ajmal said despite a national asset the PSM had become liability and its employees were demanding salaries for two shifts. Seeking the support of opposition for the PSM’s revival, the parliamentary secretary said the Sindh government was also offered to own the mills but no answer was received so far.
He said the number of employees was reduced to 13,000 from 17,000 and added that daily wages and other such employees were gradually being relieved. Rao Ajmal also conceded that perks and privileges of deceased and retired employees could not be paid due to financial position of the PSM.