Steel Mills likely to be handed over to army | Pakistan Today

Steel Mills likely to be handed over to army

  • 14-member ISI delegation to visit headless PSM today

KARACHI: The Inter-Services Intelligence (ISI) delegation will visit the Pakistan Steel Mills (PSM), a headless largest industrial mega-corporation, today (Wednesday), officials confirmed on Tuesday.

The 14-member delegation will be briefed about the security of the country’s largest industrial complex despite technical aspects of it. The ISI delegation’s visit to the steel mills is a good move towards its revival, according to the people associated with the industry.

It has been also learnt that affairs of the PSM will be handed over to any subordinate department of the army and in this regard names of the Fauji Foundation and the Frontier Works Organisation (FWO) are under consideration.

According to available documents, acting principal executive officer, acting chief financial officer, secretary corporate and other officials will brief the delegation about production capacity, a number of employees, condition of plants and other technical aspects at the conference hall.

The PSM members will also brief the delegation about the security situation of the mills. It is vital to mention here that the production is closed since June 2015 and employees of the mills are deprived of four-month salaries while retired employees are waiting for their dues.

All the matters of the industry is being run through ad-hoc basis as the largest industrial unit is working without the chairman.

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