Minister proposes Pakistan Steel’s sale

[BATMAN]

Minister proposes Pakistan Steel’s sale

ISLAMABAD - Federal minister for Production Anwar Ali Cheema has proposed to sell Pakistan Steel Mills as it is impossible to run it.
Addressing a press conference in Islamabad, he said that the report of irregularities in Pakistan Steel Mill has been sent to the government and 50% cut in Mills’ workers is proposed.
He said that Pakistan Steel has pleaded for a bailout package of Rs10b; however, the government agrred to issue Rs2b. Cheema said that subordinate institutions of Pakistan Industrial Development are being audited and an embezzlement of Rs530m is exposed. The cases of irregularities in subordinate institutions of Corporation have been sent to FIA, he said.
He further informed that three people were named for Steel Mills board of directors but I did not agree on anyone of them.

 

[BATMAN]

The hypocrate Iftikhar ch. is responsible for all the mess

While today, he is making inquiries about PIA & Railway.

 

[Emmie]

No wonder..... One day these corrupt minsters will propose Pakistan's sale.

Lets get rid of these duds once and for all..

 

[Abhishek_]

^easier said than done

 

[BATMAN]

No wonder..... One day these corrupt minsters will propose Pakistan's sale.

Lets get rid of these duds once and for all..

As i remember last time it was Iftikhar ch. who raised objection to its sale to Saudi investors.
Additionally, it was dumb Nawaz Sharif who objected it and even individuals in our society objected to it, today, they are all missing.

^easier said than done

What is your point?

 

[AsifAmeer]

You know whats the best part of Free Market Economics?
You dont have to believe in it to believe in it! lol

I know I will get creamed for saying this Lekin this is a good step. Let the private sector buy it. WHATS KEY IS MAKE SURE THE GOVT DOESNT SUBSIDIES this industry after its privatized.

 

[Malik Usman]

Abviously.........Corrupt, Theivies and Uneducated peoples can't run such kind of Industries..............What else they can give suggestion.......they have lotted this Industry...and now they see there is nothing much left for looting....they are planning to sale this so they can get their commission from the sale...

 

[jetti]

You should sell it to either arcelor mittal the turnaround champs or Tata steel out of goodwill. The companies should also give a small premium to the sick plants as a goodwill.

 

[jetti]

Abviously.........Corrupt, Theivies and Uneducated peoples can't run such kind of Industries..............What else they can give suggestion.......they have lotted this Industry...and now they see there is nothing much left for looting....they are planning to sale this so they can get their commission from the sale...

Thats why educated people should be ministers , they thought Pakistan steel was actually Pakistan steal.
Lol

 

[Veeru]

But i don't think its right time for auction it, it won't get buyers or right price.

 

[indushek]

But i don't think its right time for auction it, it won't get buyers or right price.

However i think Tata guys should go for this now.

 

[STEELMAN]

well what is the capacity of this plant ?
and whats the actual problem for not running in profit like availability of raw material, power or some thing else ?????????

 

[Veeru]

However i think Tata guys should go for this now.

u mean they should invest billions in a unstable nation lo loose it and to top of it they can be targeted or kicked out in case of a coup etc.

 

[Doctor09]

corruption corruption and more corruption ...............
first railway and PIA and now Steel mill .... excellent GOVT policies

 

[indushek]

u mean they should invest billions in a unstable nation lo loose it and to top of it they can be targeted or kicked out in case of a coup etc.

If this is what you expect then, this holds good towards MFN too as the obvious follow on would be setting up of industries or businesses there. So no they will not let that happen.