Key Issues Addressed by the Senate Sub-Committee
The Senate Standing Committee on Industries and Production convened a meeting of its sub-committee, where several critical issues related to Pakistan Steel Mills (PSM) were discussed. The session was chaired by Senator Khalida Ateeb, who welcomed Senators Syed Masroor Ahsan and Husna Bano, as well as Senator Syed Waqar Mehdi, who attended as a special invitee.
During the meeting, the sub-committee reviewed the outstanding gratuity payments for retired employees of PSM. The CEO of PSM informed the committee that 288 retired employees had already received their gratuity, with the remaining 293 cases expected to be resolved by November 2025. However, the committee emphasized that these liabilities should be addressed on a priority basis to ensure fairness and transparency.
Electricity Bills and Employee Salaries
Senator Syed Waqar Mehdi raised concerns about the unusually high electricity bills being charged to residents in the PSM area, which were reportedly 400 times higher than normal. The CEO explained that subsidized rates are provided to serving employees of PSM, while encroachers and unauthorized occupants within the premises are charged at higher rates. This clarification aimed to address the disparity in billing practices.
Additionally, the CEO mentioned that employee salaries at PSM have not been revised since 2012. However, recent adjustments have been made to align with the government’s basic salary benchmarks. Despite this, there remains a need for more comprehensive salary reviews to reflect current economic conditions.
Financial Expertise and Data Provision
Senator Syed Masroor Ahsan expressed concern over the absence of financial experts from PSM during the meeting. He directed that the Finance Department of PSM be summoned in the next session to provide necessary insights. Furthermore, he highlighted the lack of required data from relevant authorities, emphasizing the importance of transparency and accountability.
The committee also instructed PSM management to submit detailed information regarding the current copper stock held by the company and the estimated value of copper or scrap lost due to theft incidents over the past decade. This data is crucial for assessing the financial health of the company and identifying areas for improvement.
Third-Party Evaluation and Theft Prevention
Senator Waqar Mehdi recommended conducting a third-party evaluation of the copper and scrap inventory currently held by PSM. This step would ensure an unbiased assessment of the company’s assets and help identify any discrepancies.
Taking the issue of theft seriously, the convener stressed the need to identify and dismantle the networks involved in such incidents. This call for action underscores the importance of securing PSM’s assets and preventing further losses.
Next Steps and On-Ground Review
In conclusion, the convener directed that the next meeting of the sub-committee will be held in Karachi to conduct an on-ground review of all issues related to PSM. The authorities were urged to ensure early resolution of pending matters, including the payment of gratuities and addressing the concerns raised during the meeting.