Officer Reported Rs. 10 Billion Theft Actually Behind the Heist: Alleges PSM

Pakistan Steel Mills (PSM) has alleged that A-XEN CMD Security, Engineer Abdul Rehman, who identified the theft of Rs. 10 billion, was the mastermind behind the theft. While briefing the National Assembly Standing Committee on Industries and Production, PSM management stated that contrary to what is being claimed, only 3 metric ton of copper, worth Rs. 4.7 million, was stolen. However, PSM management admitted that some other incidents of theft do have taken place in PSM. Committee member Osama Qadri pointed out that the theft of Rs. 10 billion did not take place at once. He, while alleging that bureaucracy is involved in this theft in connivance with PSM management, asked the concerned authorities to properly investigate the matter. While raising the issue of non-availability of fertilizers in the country, committee member Rana Muhammad Ishaq stated that the price of urea has reached Rs. 3,000 in Punjab. He suggested that government should provide direct subsidy to the farmers. Secretary to the ministry of Industries and Production stated that fertilizers were in short supply during June and July, as a result of which their prices soared. However, to make the situation better, 11500 tons of fertilizers are being provided to Punjab, he added. Minister for Industries and Production Murtaza Mehmood, apprised the committee that 35 percent of Di-Ammonium Phosphate (DAP) is locally produced, while the rest is imported. He informed the participants that the prime minister has formed a task force to increase the local production of commodities.