ISLAMABAD [Pakistan], Citing expiry of contract, Pakistan Steel Mills on Wednesday dismissed 562 daily wage workers, according to ARY News.
According to a statement from the manager in-charge of Pakistan Steel Mills, all daily wage workers have been laid off and will not be rehired.
According to ARY News report, in December 2023, the then caretaker government had removed Pakistan Steel Mills from the privatization list of state-owned entities.
In his speech at the unveiling of the Economic Survey 2023-24 in Islamabad on Tuesday, Finance Minister Muhammad Aurangzeb expressed pessimism about the PSM's recovery prospects.
According to ARY News, he quite confidently announced that zero per cent chances exist for the revival of the once thriving entity. To emphasize his argument, Aurangzeb openly declared that the only possible future for the PSM was to be consigned to the scrap heap.
These comments brought back memories of a time when the idea of selling PSM for just PKR1 had become popular as a means of divesting the government of its burdensome assets.
In a sharp comment, Aurangzeb criticized the prevailing policies governing the supply of natural gas to the now defunct PSM, calling them grossly inadequate.
According to a statement from the manager in-charge of Pakistan Steel Mills, all daily wage workers have been laid off and will not be rehired.
According to ARY News report, in December 2023, the then caretaker government had removed Pakistan Steel Mills from the privatization list of state-owned entities.
In his speech at the unveiling of the Economic Survey 2023-24 in Islamabad on Tuesday, Finance Minister Muhammad Aurangzeb expressed pessimism about the PSM's recovery prospects.
According to ARY News, he quite confidently announced that zero per cent chances exist for the revival of the once thriving entity. To emphasize his argument, Aurangzeb openly declared that the only possible future for the PSM was to be consigned to the scrap heap.
These comments brought back memories of a time when the idea of selling PSM for just PKR1 had become popular as a means of divesting the government of its burdensome assets.
In a sharp comment, Aurangzeb criticized the prevailing policies governing the supply of natural gas to the now defunct PSM, calling them grossly inadequate.
