The revival of PSM

Many years ago, Pakistan Steel Mills (PSM) deemed to be a valuable national asset. The sole purpose of this project was to meet the domestic need of steel and to export the excessive quantity to the neighbouring countries. With the passage of time, the constant violations of standard norms and political meddling brought PSM to a grinding halt. It is really quite unfortunate that instead of making this industrial unit a profitable business, all governments focus on increasing the number of employees and appointing their preferred people on the organisation’s top positions. The most horrific and startling aspect of the current PTI regime is that even though before coming to power, its leaders, through their baffling rhetoric, would claim to revive and rehabilitate PSM, the incumbent government approved the layoff plan of more than 5,000 employees. The state institution has incurred a loss of Rs212 billion. No one has ever thought about bringing this national asset out of the quagmire of heavy losses and bankruptcy. The closure of PSM and the laying off of its employees is not a prudent solution. Isn’t it a mammoth challenge for the incumbent government to make this national asset one of the profit-making business entities of the country?

The prime minister himself has said on numerous occasions that a true captain never accepts the defeat. But in the case of PSM he seems to have accepted his defeat. For patriotic citizens, it is heartbreaking to see the national asset being ruined. It is the need of the hour to take necessary steps for the revival and rehabilitation of this national asset so that it can be turned into a profitable business unit again.

Sajjad Khattak

Attock