Pakistan Steel Mill to be revived

Pakistan Steel Mills is to be revived as the newly elected government has started consultations on the matter, inviting suggestions in this regard from people belonging to all walks of life.

According to sources close to the issue, the government intends to bring Pakistan Steel Mills into operation and run it by itself, so that the issues on the forefront with the firm could be tackled head on. Moving forward, the government intends to run it on a public-private partnership basis.

Pakistan Steel Mill has been shut for more than three years now but the government, in the last three years, has borne around Rs 13 billion for the salaries of its employees.

According to sources, Pakistan Steel Mill still has the capacity to produce about 1.1 million tons of steel.

Historically, interest in increasing its capacity has been absent in the agendas of the prior government, but it has been learned that on the basis of its infrastructure, Pakistan Steel Mills is capable of producing up to 3 million tons.