LCCI concerned over PSM condition

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has expressed concern over the deteriorating state of the affairs of Pakistan Steel Mills Corporation (PSMC) and urged the government to work out a plan for its early revival, a statement said on Monday.

LCCI president Abdul Basit, senior vice president Amjad Ali Jawa and vice president Muhammad Nasir Hameed Khan said that once Pakistan Steel Mills was a highly profitable public sector enterprise and considered one of the largest steel producers in the country, but at present, it is on the verge of collapse because of ignorance.

They said the policymakers should be well aware of the fact that Pakistan Steel Mills is not only a major source of steel products supply to various domestic industries, but also has vital importance for the defence industry.