Inefficient Steel Mills

This refers to the news report, ‘PSM output hits six-year high of 60 percent’ (March 12). According to an earlier news story, ‘ECC approves Rs960m for two months salary of PSM workers’ March 1. The ECC had been sent a summary to approve a new bailout package of Rs8.2 billion for paying salaries to its employees and overdue repair works. Pakistan Steel Mills CEO Zaheer Ahmed Khan reportedly said that the state-run facility needs Rs4.5 billion for salaries and utility bills and another Rs3.7 billion for major repair work. The Steel Mills have not been paying salaries since November 2014 and needs around Rs500 million for salaries every month.
It was shocking that instead of asking NAB to open an inquiry into funds embezzlement and sending a corruption reference against the PSM management, Finance Minister Ishaq Dar forwarded this request to the ECC and the body approved the grant. The Pakistan Steel Mills has a staff of over 16,000, while they require only 9,000 to attain 100 percent production. Since 2008, the Steel Mills have been running on the 6-8 percent production level. PSM employees receive excellent salaries and extraordinary benefits. So my question to Nawaz Sharif and Ishaq Dar is: For how long will we keep paying salaries of inefficient PSM staff?
Engr Shahryar Khan Baseer
Peshawar