Islamabad: Prime Minister Imran Khan directed the relevant officials to expedite the revival efforts of Pakistan Steel Mills (PSM) in a meeting on Monday, a news source reported. This meeting was convened to discuss the situation of the country’s largest steel mill.
The PM remarked that saving and restoring PSM is the top priority of the government. He was also briefed about the current status of the steel mills, including the losses. He was informed that PSM had been a profit-earning organisation before 2009, but began facing losses until it was closed down in 2015.
The PM also noted that the government is bearing an expenditure of PKR 370 million each month under the salaries of PSM Employees, while the total losses have gone up to PKR 217 billion.
The same day, according to a press release issued by the PM’s office, PM Khan approved a plan aimed at protecting Karachi and other cities of Sindh from flooding and devastation from seawater.
