SC fixes PSM privatisation case for hearing
ISLAMABAD: The Supreme Court (SC) to hear Pakistan Steel Mills (PSM) privatisation case on May 5, ARY News reported.
A three-member bench of the SC headed by Chief Justice of Pakistan (CJP) Justice Gulzar Ahmed will take up the plea. Justice Ijazul Ahsan and Justice Muzahir Ali Naqvi will also be part of the bench.
Notices have been served to Federal Minister for Privitisation, Muhammad Mian Soomro, AGP, secretary commerce and industries and other concerned.
It is to be noted that the government has decided to privatised the PSM, citing heavy losses amid zero production. The then Advisor to Prime Minister on Finance Abdul Hafeez Shaikh had approved plan for golden handshake to the employees of the mills.
The plan was approved in the meeting of the Economic Coordination Committee (ECC). The committee had approved Rs19.65 billion funds for the golden handshake plan for PSM employees.
In the last hearing, earlier this year, Chief Justice of Pakistan (CJP) Justice Gulzar Ahmed had hinted that the Supreme Court would pass an order for closing down the Pakistan Steel Mills (PSM).