SSGC disconnects gas connection of PSM
- By Web Desk -
- Jul 05, 2024
KARACHI: The Sui Southern Gas Company (SSGC) disconnected connection of Pakistan Steel Mills (PSM) over non-payment of bills, ARY News reported on Friday.
According to the SSGC spokesperson, the PSM in a letter to them informed about the decision of ECC regarding suspension of gas bills payment
The spokesperson further said the SSGC also sought details about the PSM’s capacity of paying the bills in a letter, but got no reply.
A letter was also penned to the power ministry on the issue, but no response.
Read more: Federal government decides to shut down Pakistan Steel Mills
On July 3, the federal government decided to shut down Pakistan Steel Mills (PSM), a state-owned enterprise that has been incurring heavy losses for years.
In a statement, Secretary of Industry and Production said that the Sindh government has been offered to take over 700 acres of the total 19,000 acres land of the PSM and establish its own steel plant on the site.
Last year, the secretary claimed, they found out that there was no buyer for the Pakistan Steel Mills. “Apart from 700 acres, the land will be used for industrial purposes”, he added.
Meanwhile, Chief Financial Officer (CFO) Arif Sheikh claimed that the federal government has decided to close down PSM due to its poor performance and financial losses.