Russian offer to revive PSM hailed

ISLAMABAD: Founder of Islamabad Chamber for Small Traders (ICST) Shahid Rasheed Butt on Tuesday welcomed Russian offer to help revive Pakistan Steel Mills (PSM) and transform it into a state-of-the-art industrial complex.

Russia made the PSM that was profitable for many years but later the political governments inducted thousands of incompetent persons into the institution ruining it, he said. He said that the unit has strategic importance was run on a non-serious way and on the political basis resulting in losses to the tune of billions.