Stakeholders Request PM to Hire Professionals For Revival of Pakistan Steel Mills

The Pakistan Steel Mills Stakeholders Group has written a letter to the Caretaker Prime Minister, demanding the reconstitution of the board of Pakistan Steel Mills and the appointment of professional management. The group believes that appointing the steel mills management on merit will help revive the national asset. The stakeholders’ group also opposed the appointment of the Pakistan Institute of Management as a consultant. Currently, the affairs of the steel mills are run by an illegal executive board, which is a matter of concern for the stakeholders. The board of directors is also in dispute till the FIA inquiry is completed. The group opined that a Reconstituted Board of Directors and appointment of Management would be helpful in the provision of correct information pertaining to authentic financial accounts data, available usable inventories, condition of plant 20 complexes, requirement of human resources for “Revival of Mills” existing plant and its budgetary cost. The letter demands the recruitment of new technical manpower and the withdrawal of illegal letters of retrenched employees. The stakeholders emphasized the restoration of the steel mills and the restoration of the confidence of the business community for investment. They also demanded investigation and accountability against those who damaged the steel mills from 2005 to 2023. The stakeholders also demanded an inspection by the steel mill plant and machinery technicians.