Ministry of Finance releases Rs.500 million to Pakistan Steel Mills

Karachi, December 19, 2014 (PPI-OT): Ministry of Finance, Government of Pakistan, Islamabad, has released Rs.500 million to Pakistan Steel Mills, 2nd tranche of the 3rd installment. The received amount will be utilized for the disbursement of one moth salary to the employees of Pakistan Steel for the month of October-2014. The salary will be paid during the current week.

It is imperative to mention here that Pakistan Steel Management wrote a letter to Ministry of Finance through Ministry of Industries and Production for early release of the above mentioned installment for the payment of the employees for the month of October-2014. Earlier, an installment of Rs.1.5 billion was released to PSM through which salary for the month of September-2014 was released to all the employees.

Pakistan Steel management is confident that with the timely release of the installments from the approved package, production of the mill would further improve and will help in achieving the capacity utilization target set by Government of Pakistan.

PSM Management is extremely thankful to the Government of Pakistan, especially Ministry of Finance, Privatization, Ministry of Industries and Production and related organizations for their positive role in the revival of Steel Mills.

On this occasion Major General (Retd.) Zaheer Ahmed Khan, Chief Executive Officer Pakistan Steel and Management PSM congratulated the employees with whose efforts and prayers the much awaited revival of PSM has begun.

For more information, contact:
Mohsin Ali Naqvi
Secretary
Pakistan Steel Mills Corporation (Pvt.) Limited
Pakistan Steel Bin Qasim
Karachi 75000
Pakistan
Tel: +92-21-99264222, +92-21-34750271
Cell: +92-300-4483558
Fax: +92-21-34750156, +92-21-34750923
Email: info@paksteel.com.pk
Website: www.paksteel.com.pk

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