PM issues directives for Pakistan Steel Mills revival

Prime Minister Imran Khan has issued directions to the Ministry of Trade and Industry to revive the Pakistan Steel Mills, on Monday.

The directives were given by the prime minister in a review meeting on the progress of the revival of the Pakistan Steel Mills.

“It is a priority of the government to save the Steel Mills from losses and restore it back to its original condition,” the premier is quoted to have said by Radio Pakistan.

During the meeting, the prime minister was briefed on the decisions taken by the incumbent government to revive Steel Mills, losses caused to the national exchequer due to the closure of the mills and the current situation of the institution.

Prime Minister Khan was told that the institution was making profit till 2008. However, it incurred losses in 2009 and completely shut down by 2015.

Prime Minister Khan was told that the government is bearing 370 million rupees monthly expenditures under salaries of the employees, and so far, Steel Mills has outstanding amount of 217 billion rupees.

Prime Minister Khan promised to revamp national institutions during his election campaign from last year and had stated that he would ensure a turnaround of the Pakistan Steel Mills.