The caretaker government has started working on the revival plan of Pakistan Steel Mills (PSM), which has been non-functional since June 2015.
This was revealed by Secretary Industries while briefing the Senate Standing Committee on Industries and Production which met with Senator Khalida Ateeb in the chair on Friday.
The caretaker Federal Minister for Privatization Fawad Hassan Fawad has sought a presentation on the revival plan of PSM, said the secretary, adding that the government is going towards its revival. The committee asked to share the revival plan of PSM once it is finalized.
The Chief Financial Officer (CFO) of PSM provided a detailed breakdown of operational expenditures, explaining that operations at the mill ceased in 2015, with no production occurring since then.
The meeting also deliberated upon the availability and pricing of sugar within the country. Senator Zeeshan Khanzada raised concerns about the decision-making process for sugar exports, emphasizing the need for a robust system to assess projected sugar demand. He noted that the country often finds itself exporting sugar and subsequently importing it when shortages arise. The secretary explained that the Sugar Advisory Board has recently been placed under the ministry’s purview, and a detailed presentation regarding this matter will be provided to the committee.
The meeting was attended by Senators Mohammad Abdul Qadir, Zeeshan Khanzada, Fida Muhammad, Faisal Saleem Rehman, Samina Mumtaz Zehri, Atta Ur Rehman, Saifullah Sarwar Khan Nyazee, and Syed Waqar Mehdi.