PR No. 204 Approval of seven months salaries from December 2015 to June 2016 for Pakistan Steel Mills (PSM) Employees. Islamabad: April 25, 2016

Ministry of Industries & Production has recommended to privatization Commission to move a summary for payment of seven months salaries for the period from December, 2015 to June, to the employees of PSM as recommended by PSM management 2016 on humanitarian ground due to forthcoming holy month of Ramdan/Eid holidays.

While approving the payment of salaries to Pakistan Steel Mills, ECC directed to rationalize day to day essential administrative expenditures of PSM through Board of Directors. The meeting of Board of Directors however could not be held which has now been scheduled to be held on 27-04-2016.

The Secretary Industries & Production Mr. Khizar Hayat Gondal initiated for these Meeting. Mr. Khizar Hayat Gondal, Federal Secretary for Industries & Production said “We fully understand the difficult situation, which thousands of employees of PSM are currently facing. We are extremely sensitive to the wellbeing of employees of all state owned enterprises listed under the privatization programme, as we fully understand the financial and social implications of families not receiving salaries for months. We are therefore doing our best to provide the employees maximum protection”.