The federal cabinet has endorsed the decision of Economic Coordination Committee (ECC) to privatise the Pakistan Steel Mills (PSM).

The cabinet that met on Tuesday with Prime Minister Imran Khan in the chair okayed giving a golden handshake to officials.

The premier issued directives to stem discriminatory action against the PSM staff and taking care of workers.

During the meeting, Umer Ayub and Nadeem Babar came under fire.  “You are a technocrat that’s why you are sitting here,” Shah Mehmood told Nadeem. Babar Awan questioned petroleum product supply issue as to why such a serious issue remained unnoticed.

“Another crisis has been looming when the country has been fighting deadly corona virus. Filling stations has been running short for a few days. Consumers have been complaining about overcharging.

Last week, the ECC met with Adviser to the Prime Minister on Finance Hafeez Shaikh in the chair and made the decision. The meeting gave a go-ahead to a ‘full and final’ human resource rationalisation plan for the employees as per the court rulings.