Agha Steel reports minor damage at plant site, major loss of lives in ECR incident

January 01, 2024 (MLN): An isolated incident that occurred at the Agha Steel Ind.Ltd (PSX: AGHA) plant site in the low-voltage electric control room (ECR) has been effectively managed and contained, and no major damage is being reported, the company said in a notice sent to the local bourse today.

The incident also affected two LT transformers.

However, during this incident, two team members, Abid Hussain Soomro and Jamil Shaheen, sacrificed their lives while saving others.

Agha Steel said that it pledges unwaveringly to support their families and take responsibility for the well-being of their dependents.

The management has also decided to offer a job to Abid Hussain Soomro's son once he has completed his education, and during that time, Agha Steel will continually assure the best emotional and monetary support.

Similarly, for Jamil Shaheen, the company shall also offer a job for a nominated person / dependent from the family.

We would also like to assure that there was no safety lapse; at Agha Steel, we ensure that the team, Agha, always treated as family.

The scrip price of AGHA is currently trading at Rs13.87 per share, down by Rs0.36 or2.53% compared to Friday’s closing.

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