ProPakistani reported that the Pakistan Steel Mills Labor Union in a letter to Pakistan’s Federal Minister for Privatization & Federal Minister for the Ministry of Industries & Production has alleged that non transparent privatization of Pakistan Steel Mills has cost Pakistan’s exchequer USD 2 billion as Mr Imran Khan led PTI’s earlier government failed to put professional management in the steel mills. Through the letter, the labor union demanded accountability and an investigation into the loss inflicted on the national exchequer. The letter stated that Since 2005/2006 Pakistan Steel Mills has suffered a loss of approximately USD 12 billion & the rehabilitation of the Pakistan Steel Mills required USD 300 million or PKR 50 billion and Mr Imran Khan could not fulfill his promise.The letter added “Employees with 12% shares were not taken into account in decision making, according to the letter, and no approval from the Council of Common Interest was sought for rehabilitation under the public-private partnership. Moreover, the letter said a No Objection Certificate was not obtained from the Sindh government before handing over 930 acres of Pakistan Steel Mills’ land to the National Industrial Park. Similarly, no NOC was obtained before handing over 220 acres of Al-Tuwairqi Steel Mills, 50 acres of Aisha Steel Mills, and 9,000 acres of land to Special Economic Zones.”
ProPakistani reported that the Pakistan Steel Mills Labor Union in a letter to Pakistan’s Federal Minister for Privatization & Federal Minister for the Ministry of Industries & Production has alleged that non transparent privatization of Pakistan Steel Mills has cost Pakistan’s exchequer USD 2 billion as Mr Imran Khan led PTI’s earlier government failed to put professional management in the steel mills. Through the letter, the labor union demanded accountability and an investigation into the loss inflicted on the national exchequer. The letter stated that Since 2005/2006 Pakistan Steel Mills has suffered a loss of approximately USD 12 billion & the rehabilitation of the Pakistan Steel Mills required USD 300 million or PKR 50 billion and Mr Imran Khan could not fulfill his promise.The letter added “Employees with 12% shares were not taken into account in decision making, according to the letter, and no approval from the Council of Common Interest was sought for rehabilitation under the public-private partnership. Moreover, the letter said a No Objection Certificate was not obtained from the Sindh government before handing over 930 acres of Pakistan Steel Mills’ land to the National Industrial Park. Similarly, no NOC was obtained before handing over 220 acres of Al-Tuwairqi Steel Mills, 50 acres of Aisha Steel Mills, and 9,000 acres of land to Special Economic Zones.”
