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Bail-out package

08 December, 2011

The government has recently approved another bail-out package of Rs6 billion for the Pakistan Steel Mills for the payment of salaries of its employees and for the purchase of raw material. It was feared that if the amount was not released, the PSM would collapse. No matter how much money is injected into the PSM, its collapse can't be prevented unless some strict measures are taken.

The organisation must get rid of all the employees appointed on the basis of their political affiliations. The PSM has become a white elephant and it will remain so if immediate action is not taken to reform and restructure the organisation.

Ibrahim Abbas Karachi

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