The Pakistan Steel Mills Stakeholders Group has written to the Caretaker Prime Minister demanding the reconstitution of Pakistan Steel Mills’ board of directors and the appointment of professional management.
Letter to Caretaker PM For Pakistan Steel Mills Revival
The group believes that appointing steel mill management based on merit will help revitalize the national economy.
Furthermore, the appointment of the Pakistan Institute of Management as a consultant was also opposed by the stakeholders’ group.
The affairs of the steel mills are currently being run by an illegal executive board, which is causing concern among stakeholders.
The board of directors is also divided until the FIA investigation is completed.
Request of Appointment of New Management Board
Furthermore, the group believed that a reconstituted Board of Directors and the appointment of Management would aid in the provision of accurate information regarding authentic financial accounts data, available usable inventories, the condition of plant 20 complexes, the need for human resources for the “Revival of Mills” existing plant, and its budgetary cost.
The letter demands that new technical personnel be hired and that illegal letters of retrenched employees be withdrawn.
However, the stakeholders emphasized the importance of restoring the steel mills and the business community’s confidence in investment.
Moreover, they also demanded an investigation and accountability for those who harmed the steel mills between 2005 and 2023.
The stakeholders also demanded that the steel mill plant and machinery technicians conduct an inspection.
To read our blog on “In 2024, the world will have 1.7% more steel requirement,” click here.