The federal government of Pakistan has commenced efforts towards the rehabilitation of Pakistan Steel Mills, signaling a pivotal step in reviving the country’s steel industry.
An eight-member committee, spearheaded by the Secretary of Industries and Production, has been established to oversee the rehabilitation process. Comprising officials from various sectors including finance, revenue, and technical expertise, the committee is tasked with formulating a comprehensive plan for the revitalization of Pakistan Steel Mills.
The committee, convened under the leadership of the Federal Secretary of Industries and Production, encompasses key stakeholders such as the Additional Secretary of Industries and Production, Senior Member of the Sindh Board of Revenue, Joint Secretary of Finance, CEO of PIDC, representatives from the Workers Union of Pakistan Steel Mills, as well as independent board members of Pakistan Steel Mills. This diverse panel aims to leverage expertise from multiple domains to chart a viable path forward for the beleaguered steel entity.
Among its mandates, the committee will critically evaluate the proposal to shutter Pakistan Steel Mills and liquidate its assets, while also exploring avenues for potential collaboration with the private sector in the mill’s rehabilitation efforts. This strategic approach underscores the government’s commitment to exploring all viable options to revive the steel giant, thereby safeguarding jobs and contributing to the economic prosperity of the nation.
The decision to initiate rehabilitation measures comes in the wake of previous attempts to privatize Pakistan Steel Mills, which were met with logistical challenges and political resistance.
