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Steel

Govt invites EoIs for Pakistan Steel Mills shares

ISLAMABAD: The government has invited Expressions of Interest (EoIs) from those interested in buying shares of Pakistan Steel Mills. The applications will be received by the Privatisation Commission from prospective investors to acquire at least 51 percent or up to

Pakistan Steel Mills terminates another 500 employees

KARACHI: The Pakistan Steel Mills has dismissed another 500 employees including the services of a number of officers falling in seven categories. In November 2020, the PSM laid off over 4,500 employees making up about 49 percent of workers and

PSM layoffs

The government has sacked over 4,500 employees of the Pakistan Steel Mills. The move is not entirely surprising as the federal government had announced to layoff over 9,300 employees of the loss-making industrial complex as part of a revival process.

Privatizing Steel Mills

The government has decided to privatize the Pakistan Steel Mills and dismiss over 9000 employees of the loss-making entity. We are once again witnessing a repeat of how efforts to revive or sell out the enterprise have been victim to

PSM production unit closed since sixty months

KARACHI: The Pakistan Steel Mills (PSM), the nation’s largest steel-producing entity with an annual production of over 1.1 million tonnes, has been completely shut since the past sixty months since 2015 with zero production. The national asset is the largest