Federal Cabinet green lights privatisation of Pakistan Steel Mills

ISLAMABAD: Cabinet meeting held under the chair of Imran Khan has concluded in Islamabad on Tuesday where principal decision to privatise Pakistan Steel Mills has been taken, ARY News reported.

The federal cabinet has formally agreed upon Economic Coordination Committee (ECC) suggestion to privatise the mega firm.

The federal cabinet will go ahead with the privitization and provide a golden handshake to its employees.

The Prime Minister, Imran Khan has issued special directions saying that although national interest is of primary importance but mill employees must also be compensated in the best way possible.

A key member of the provincial cabinet and close aide to chief minister, Saeed Ghani also vowed on June 7 to protect rights of over 9,000 PSM workers, who were being laid off under a proposed plan.

“We are against the retrenchment of 9,500 workers of Steel Mill and the PPP will protect these employees at every forum,” Sindh Education Minister Saeed Ghani told a press conference along with labour leaders Shamshad Qureshi and Habib Junaidi.

“The government is eyeing the land of steel mills worth billions of rupees. But everyone should be clear about it. This land belongs to the Sindh government and we will not allow them to take this land. The Sindh government had in the past raised its voice against the privatisation and we will not remain silent this time as well. We are with workers not with capitalists.”