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No saleable assets remain at PSM


A National Assembly panel on Thursday expressed serious concern over alleged large-scale theft at Pakistan Steel Mills (PSM), summoning key officials.

The National Assembly Standing Committee on Industries and Production meeting, chaired by Syed Hafeezuddin, received a report from the subcommittee on PSM, presented by committee member Naz Baloch. She painted a troubling picture of the situation at the once flagship industrial unit.

"We went to the Steel Mills hospital and it felt like a scene from a movie," Naz Baloch told the committee. "Everything was arranged for one day, and after that, everything disappeared." She alleged that large-scale theft was currently taking place at Steel Mills and revealed that six months ago, the entity had been presented to Russia for possible sale.

"Six months ago, Steel Mills was presented for sale to Russia, and now six months later nothing is left there," she claimed.

USC payments

The committee also expressed anger over the non-payment of dues to laid-off employees of the Utility Stores Corporation (USC).

"What happened was wrong. You shut down a running entity," said Syed Naveed Qamar during the meeting. He added, "You said we will pay them. From that day till today, they have not received their payments. Why this indifference?"

The Secretary Industries and Production responded that the workers' union had gone into litigation against the government, seeking an increase in compensation.

"They wanted the compensation package to be increased. The CBA said this package is not acceptable," he explained, adding that payments had now begun.

The committee directed that all clear cases of pending payments to Utility Stores employees be settled before Eid. "For those whose cases are clear, ensure payment before Eid," Qamar instructed. In an emotional appeal, he added, "You will celebrate Eid with your children … do you not care about theirs?"

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