Pakistan News

    Peoples Steel Mills Karachi Pakistan Airport

  • Pakistan-India detente thru’ peoples contact

    LAHORE: A Polish academic has floated the idea of reconciliation through cultural exchange and people-to-people contact between Pakistan and India for lasting peace in the South Asia region...

    “There should be confidence building measures (CBMs) and concrete efforts to pacify hawkish elements on both sides of the border,” said University of Social Sciences and Humanities, Warsaw (Poland) Prof Dr Agnieszka Kuszewska at a seminar on...

  • NA panel wants NAB to probe Pakistan Steel Mills shutdown

    ISLAMABAD: The Nat­ional Assembly’s Standing Committee on Industries and Production on Thursday recommended that the case related to the closure of Pakistan Steel Mills (PSM) because of unexplained suspension of gas supply to it and illegal withdrawal of salaries of retired employees be forwarded to the National Accountability Bureau (NAB) for investigation...

    “There are deliberate efforts to des­troy steel production in the country...

  • We will never sell Pakistan Steel Mills’ land: Murad

    KARACHI: The land of Pakistan Steel Mills (PSM) belongs to the people of Sindh and we would never sell it to settle the liabilities of the mill, Sindh Chief Minister Syed Murad Ali Shah said on Tuesday...

    ”Recalling that the provincial government had given land to the federal government for establishing a steel mill complex in 1970s, the chief minister said that the federal government, after failing to run the mill professionally, has...

  • PPP to resist sale of Pakistan Steel Mills land

    ISLAMABAD: Pakistan Peo­ples Party Senator Taj Haider on Friday said that he will resist the sale of Pakistan Steel Mills (PSM) land under the garb of clearing its liabilities...

    He blamed PM Abbasi for deliberately causing shutdown of steel mills...

  • Pakistan Steel Mills nears default, owes Rs35 billion to SSGC

    KARACHI: The Pakistan Steel Mills (PSM) has constantly been defaulting on its payments to the Sui Southern Gas Company (SSGC), said SSGC in a press statement released on Saturday...

    The spokesperson for SSGC commented that the Pakistan Steel Mills stood today at a staggering default of Rs35 billion, which has made it difficult for the gas utility to finance its programs of strategic nature, including pipeline augmentation projects...

  • Plan to lease out Pakistan Steel Mills for 45 years

    ISLAMABAD: As Pakistan Steel Mills (PSM) continues to pile up liabilities, the government is considering leasing the country’s largest industrial complex to a private concern for 45 years under a revenue sharing arrangement, and laying off almost 5,000 employees...

    Read: Pakistan Steel Mills financial woes continueA previous attempt to sell the PSM by then prime minister Shaukat Aziz to a Saudi-led consortium for Rs21...

  • Pakistan Steel Mills financial woes continue

    KARACHI: As the financial health of Pakistan Steel Mills (PSM) continues to deteriorate, the grievances of its serving and retired employees have increased manifold — with no respite in sight any time soon...

    The staff of Pakistan Steel Mills — which falls under the federal government — has been deprived of the yearly pay hike for the last many years owing to the precarious financial condition of the mill...

  • Chinese, Iranian companies interested in leasing Pakistan Steel Mills

    ISLAMABAD: Chinese and Iranian state-owned companies are interested in taking over loss-making Pakistan Steel Mills (PSM) as part of a long-term lease deal, Privatisation Commission Chairman Mohammad Zubair said on Wednesday...

    Built by the Soviet Union in 1970s, state-owned PSM has become a huge drain on government resources and shuttered steel production in 2015...

  • PTI seeks probe into Pakistan Steel Mills collapse

    ISLAMABAD: The Pakistan Tehreek-i-Insaf (PTI) on Tuesday asked the National Accountability Bureau (NAB) to investigate the shutdown and collapse of the Pakistan Steel Mills (PSM)...

    4 billion each month, resulting in the loss of precious foreign exchange being spent on the import of steel in the country, both in private and public sectors,” the PTI lawmaker said...

  • Asifa, Bakhtawar oppose inclusion of Irfanullah Marwat in Peoples Party

    Asifa and Bakhtawar, the daughters of Pakistan Peoples Party Parliamentarians President Asif Ali Zardari, strongly opposed the inclusion of former lawmaker Irfanullah Marwat in the party, reported DawnNews...

    Marwat had on Friday announced to switch his loyalties from Pakistan Muslim League-Nawaz to Peoples Party, following a meeting with Asif Zardari...

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