The Federal Government has released a significant amount of funds to clear the outstanding dues of Pakistan Steel Mills employees.
According to sources, the government has approved the disbursement of over Rs. 2.87 billion for the employees of the Steel Mills.
The Ministry of Industries and Production had earlier requested the federal government to release the funds.
The decision to release the amount was made by the Economic Coordination Committee (ECC), sources revealed. The funds have been provided to Pakistan Steel Mills as a 20-year loan from the federal government.
Sources further stated that the Steel Mills will repay the loan, including interest, over a period of 20 years.
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