downfall of pakistan steel mills


causes of failure of pakistan steel mills

Sep 23, 2020· On August 28, the Pakistan Steel Mills (PSM) formally asked the federal government to disburse an amount of over Rs11.44 billion so that it could pay the dues of the retired employees. The PSM management wrote a letter to the Accountant General of Pakistan, saying the money would be used to release the dues of the 90 percent employees facing ...

Raping Pakistan Steel Mills - ViewsWeek

The Pakistani government decided to remove Pakistan Steel Mills from the China Pakistan Economic Corridor. Big news came regarding Pakistan Steel Mills as the government of Pakistan took a decision to remove PSM from CPEC. The government of Pakistan backed off from their decision to offer largest industrial unit to only Chinese investors.

ECC Approves Pakistan Steel Mills Retrenchment Plan

Dec 09, 2013· Pakistan Steel Mills Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Pakistan Steel Mills Blogs, Comments and Archive News on Economictimes

Pakistan Steel Mills in further trouble as losses swell to ...

Pakistan Steel Mills had found an empathetic friend in PTI's Asad Umar. When Mohammad Zubair had banned Steel Mill's steel from selling, I happened to meet Asad Umar at Insaf Professionals Forum event in 2017. I told him about the plight of PSM at the hands of his own brother.

Federal Cabinet green lights privatisation of Pakistan ...

KARACHI: The issue of Pakistan Steel Mills is of paramount importance.The largest industrial mega-corporation has en on decline for the past many years. It's considered as a white elephant; the ...

Steel Mills at standstill - Pakistan - DAWN

Pakistan Steel Mills in further trouble as losses swell to Rs200b PPP, PML-N govts failed to preven­t collap­se of the indust­rial giant By Zafar Bhutta

The demise of Pakistan Steel Mill | Pakistan Defence

Dec 29, 2017· NAB to probe reasons behind downfall of Pakistan Steel Mills. By . ... He raised the important point that the steel mills were draining Rs1.4 billion …

Pakistan Steel Mills employees get retirement cheques

Pakistan Steel Mills is incurring heavy losses with government least bothered about its plight. (Photo via Pakistan Steel Mills) Employing more than 40000 workers, Pakistan Steel Mills (PSM) was a gigantic force-multiplier for employment downstream indirectly contributing to the national economy.

The Pakistan Steel Mills Dilemma | Pakistan Tehreek-e-Insaf

In a most heartless and irresponsible decision, the federal government has removed close to ten thousand employees of the Pakistan Steel Mills (PSM), with little concern for …

Pakistan Steel Mills: Latest News & Videos, Photos about ...

Jun 09, 2020· Read More: Pakistan Steel Mills huge burden on taxpayers: Hammad. The federal cabinet will go ahead with the privitization and provide a golden handshake to its employees.

NAB initiates inquiry into Pakistan Steel Mills downfall ...

Oct 31, 2016· Right where the road enters the vast premises of Pakistan Steel Mills, a verse from the Quran is displayed on a billboard: "And we have sent down iron, wherein is great military might and benefits for the people." ... Steel Mill Downfall started in Mush era when golden shake hands were given to employees and only those with political ...

Financial decline of Pakistan Steel started in 2008: PSLPA ...

Pakistan Steel Mills had found an empathetic friend in PTI's Asad Umar. When Mohammad Zubair had banned Steel Mill's steel from selling, I happened to meet Asad Umar at Insaf Professionals Forum event in 2017. I told him about the plight of PSM at the hands of his own brother.

Pakistan Steel Mills | The Express Tribune

NAB to probe reasons behind downfall of Pakistan Steel Mills · Pakistan steel mill need huge money injection to stay Afloat: At present the mill is running at only 3% of production capacity. Pakistan steel mill the biggest and only integrated steel mill in pakistan, is going through its worst financial and production crisis in its history of ...

Pakistan Steel Mills Losses Grow to Over Rs. 200 Billion

Dec 10, 2018· The entrance to Pakistan Steel Mills | Photographs by Mohammad Ali, White Star. On the far-east side of Karachi's coast, the wind is always strong. Except that on a recent day in August, not a leaf is stirring. The ride on a road that branches off Karachi Thatta National Highway and leads to Pakistan Steel Mills is as suffocating as it is bumpy.

Financial decline of Pakistan Steel started in 2008: PSLPA ...

Pakistan Steel Mills Corporation (PSMC)—once a highly profitable organization and considered one of the largest and sole steel producers in Pakistan—is on the verge of collapse and passing ...

The Pakistan Steel Mills Dilemma | Pakistan Tehreek-e-Insaf

Dec 11, 2018· Islamabad -- Pakistan Steel Line Pipe Industry Association (PSLPA) Chairman Khalid Butt on Monday said financial decline of Pakistan Steel Mills Corporation Limited was started during the fiscal year when the national entity faced Rs 26 billion losses.

The demise of Pakistan Steel Mills - Herald

The Pakistan Steel Mills was privatized few years back if you all remember but unfortunately the ex Chief Justice of Pakistan took suo moto and cancelled the deal. ... I saw many a rise and fall ...

Pakistan Steel Mills Amid Crisis | Request PDF

He said when the PTI government came into power, the Pakistan Steel Mills was facing a loss of Rs176 billion and its interest was also increasing with each passing day.

Coronavirus: Pakistani government lays off thousands of ...

Sep 23, 2020· On August 28, the Pakistan Steel Mills (PSM) formally asked the federal government to disburse an amount of over Rs11.44 billion so that it could pay the dues of the retired employees. The PSM management wrote a letter to the Accountant General of Pakistan, saying the money would be used to release the dues of the 90 percent employees facing ...

Pakistan Steel Industry | National Steel Advisory Council ...

Pakistan Steel Mills Corporation (Pvt.) Limited (Urdu: پاکستان سٹیل ملز ‎), also known as Pak Steels, is a producer of long rolled steel and heavy metal products and entities in the country.. Headquartered in Karachi, Sindh Province of Pakistan, the PSM is the current largest industrial mega-corporation, having a production capacity of 1.1–5.0 million tonnes of steel and iron ...

Pakistan Steel Mills: Government removes PSM from CPEC plan

Jul 04, 2018· Pakistan Steel Mills Losses. As mentioned earlier, PSM started to decline when PPP took up reins in 2008. There were several other reasons …

NAB to probe reasons behind downfall of Pakistan Steel Mills

The Human Rights Commission of Pakistan (HRCP), an NGO, said it was "horrified at reports that 9,300 plus Pakistan Steel Mills employees may be laid off."

Pakistan Steel Mills employees get retirement cheques ...

Dec 30, 2017· ISLAMABAD: The National Accountability Bureau (NAB) has decided to put all those responsible for the downfall of the Pakistan Steel Mills (PSM) and loss of …

End of an era for Pakistan Steel Mills - MSN

Dec 09, 2013· Pakistan Steel Mills Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Pakistan Steel Mills Blogs, Comments and Archive News on Economictimes

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