Rs800b loss at Pakistan Steel Mills? Stakeholders seek probe

The Pakistan Steel Mills Stakeholders Group has urged the Senate Standing Committee to review the affairs of the Pakistan Steel Mills and investigate the alleged loss of more than Rs800 billion suffered by the state-owned entity, reported 24NewsHD TV.

In a letter addressed to the Senate Standing Committee, the stakeholders group demanded an investigation into the reasons behind the losses incurred by Pakistan Steel Mills from 2006 to 2026.

The group called for the facts behind the financial losses to be brought to light and the factors responsible for the deteriorating situation of Pakistan Steel Mills to be identified.

The stakeholders also urged the Senate committee to review the matter concerning 6,800 acres of Pakistan Steel Mills land.

The group further demanded that a professional board of directors and competent management be appointed for the revival of Pakistan Steel Mills.

Reporter: Ashraf Khan