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Minister warns PSM over low production despite bailout package
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Wednesday, 14 Nov 2012
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Mr Mushtaq Ali Cheema Federal Minister for Production has warned Pakistan Steel Mills administration that it would be held responsible if production does not increase despite bailout package.

He said after the inaugural ceremony of Industrial Facilitation Centre that the CEO and the administration of the Steel Mills would be wholly responsible if the money sank.

Mr Cheema said that PKR 14 billion given as bailout package would be recovered from the Mills administration if the amount sank. Steps were being taken to increase production of the Mills and run it in profit. However there were some difficulties in acquiring raw material. The Steels Mills was running on 14% of its total capacity.

Source - The News.com

(www.steelguru.com)

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