ECC approves firing all Pakistan Steel Mill employees

[Kabira]

The Economic Coordination Committee approved on Wednesday firing all employees of the Pakistan Steel Mills.

The Mills haven’t been functioning for years and the employees haven’t been doing anything, reasoned the committee. The meeting was chaired by Adviser to the PM on Finance Abdul Hafeez Sheikh.

There are 9,350 employees who will be fired within a month and another 250 will be let go within three months. The ECC approved a Rs18 billion package for the employees, which amounts to Rs2.3 million per person.

Though the Mills have been closed for years, they are running a Rs550 billion deficit and billions are being spent on debt servicing.

The government has made noise about wanting to restart the Mills but so far nothing has been done.

The move will not be finalised until it is approved by the federal cabinet.
https://www.samaa.tv/money/2020/06/ecc-approves-firing-all-pakistan-steel-mill-employees/

 

[Clutch]

Please fire all PIA employees next. They are all corrupt and also do nothing!

 

[Patriot forever]

The Economic Coordination Committee approved on Wednesday firing all employees of the Pakistan Steel Mills.

The Mills haven’t been functioning for years and the employees haven’t been doing anything, reasoned the committee. The meeting was chaired by Adviser to the PM on Finance Abdul Hafeez Sheikh.

There are 9,350 employees who will be fired within a month and another 250 will be let go within three months. The ECC approved a Rs18 billion package for the employees, which amounts to Rs2.3 million per person.

Though the Mills have been closed for years, they are running a Rs550 billion deficit and billions are being spent on debt servicing.

The government has made noise about wanting to restart the Mills but so far nothing has been done.

The move will not be finalised until it is approved by the federal cabinet.
https://www.samaa.tv/money/2020/06/ecc-approves-firing-all-pakistan-steel-mill-employees/

Excellent. Should have been done a long time ago. Most of the employees are political appointments. Wait for their ppp and plmn backed unions to challenge this in court, and sellout judiciary to spring into action to save democracy.

 

[bafxet]

What is going on in this country. Why firing all the employees. One should fire the unnecessary staff and cut cost and by getting rid of the excess staff, made it viable to do business. But seems that they want to shut down the steel mills completely and switch over to imports. Bad planning

 

[Yaseen1]

govt has no option as due to poor economic conditions countries like dubai are also firing employees,I think govt may sell steel mills as a scrap to private businessmen close to govt,there is also a risk that our nuclear program may come under threat if this govt wrong economic policies continue

 

[GHALIB]

The Economic Coordination Committee approved on Wednesday firing all employees of the Pakistan Steel Mills.

The Mills haven’t been functioning for years and the employees haven’t been doing anything, reasoned the committee. The meeting was chaired by Adviser to the PM on Finance Abdul Hafeez Sheikh.

There are 9,350 employees who will be fired within a month and another 250 will be let go within three months. The ECC approved a Rs18 billion package for the employees, which amounts to Rs2.3 million per person.

Though the Mills have been closed for years, they are running a Rs550 billion deficit and billions are being spent on debt servicing.

The government has made noise about wanting to restart the Mills but so far nothing has been done.

The move will not be finalised until it is approved by the federal cabinet.
https://www.samaa.tv/money/2020/06/ecc-approves-firing-all-pakistan-steel-mill-employees/

what will happen to the mill ?

 

[Patriot forever]

What is going on in this country. Why firing all the employees. One should fire the unnecessary staff and cut cost and by getting rid of the excess staff, made it viable to do business. But seems that they want to shut down the steel mills completely and switch over to imports. Bad planning

The mills haven't been functioning for years. These majority of which are political appointees are sitting idle and taking salaries. Quoting the article above.

 

[The Accountant]

Should be sold immediately as well.

 

[El Sidd]

It's good to have a friend like Imran Niazi

 

[bafxet]

The mills haven't been functioning for years. These majority of which are political appointees are sitting idle and taking salaries. Quoting the article above.

Than bring it back to work. Is the country's only steel mill a garbage which is being left to rot.

 

[El Sidd]

what will happen to the mill ?

we need material for dam construction.

the mill is important for us.

The people supporting this auction of state entities are beneficial owner of the fassad that is being created.

 

[Syed1.]

It's good to have a friend like Imran Niazi

But you have no friends

we need material for dam construction.

the mill is important for us.

The people supporting this auction of state entities are beneficial owner of the fassad that is being created.

The mill is closed since 2015 by Nawaz Sharif

 

[Yaseen1]

bhutto was great leader in a sense that nuclear program and steel mills were established under his govt but now it seems that this govt will destroy all national assets due to poor economic policy and bad management following the path of previous corrupt govts

we need material for dam construction.

the mill is important for us.

The people supporting this auction of state entities are beneficial owner of the fassad that is being created.

 

[Patriot forever]

Than bring it back to work. Is the country's only steel mill a garbage which is being left to rot.

If we want to bring it back, then it should be done with gov and private partnership, management being private which own majority ownership and let them run the mills. Otherwise we will see a repeat of how a profitable institution was destroyed by political recruitment and unions.

 

[El Sidd]

bhutto was great leader in a sense that nuclear program and steel mills were established under his govt but now it seems that this govt will destroy all national assets due to poor economic policy and bad management following the path of previous corrupt govts

Bhutto is a IVC name for cancer however. Lost in translation after Muslims took over IVC.

The floor and sugar mafia PM will sell it to his friends for cheap