Pakistan Steel Mills terminates 1,350 employees

The Pakistan Steel Mills (PSM) on Tuesday sacked 1,350 more employees to ease the financial burden on the entity, ARY News reported.

The PSM spokesman said that they had prepared a list of the employees who have been sacked and included from separate cadres including drivers, fireman, operators and others.

The termination letters have been dispatched to the houses of the workers by Pakistan Steel Mills.

Earlier in April 2024, the Federal Ministry of Industry and Production had constituted an eight-member committee to revive the Pakistan Steel Mills.

The committee headed by the Federal Secretary of Industry and Production include the Additional Secretary of Industry and Production, Senior Member of the Board of Revenue Sindh, Joint Secretary of Finance, CEO of PIDC, and representatives of the Worker Union of Steel Mills and two independent board members of the steel mills, including the Director Technical and Corporate Secretary.

The committee had been tasked to review the plan to shut down the PSM and auction off its plants and machinery.

The committee was tasked with exploring options to revive Pakistan steel mills with the cooperation of the private sector.