Pakistan Steel seeks Rs5bn to avert complete shutdown

[salarsikander]

Democracy is for Pakistan, Pakistan is not for democracy. Besides, this is no democracy but sham democracy. Ultra haramzadey and haram khour criminals have abducted political institutions.

Hi,

Sir, youre speaking the tone of JOunals

Let the corruption work, corruption is necessary for the system to run as said by our beloved his royal highness Hamza sharif.

The only way for this country to run is leave it as it is and then democracy will show its wonder, like family run business, huge scams, bribes, corruptions, high emphasis on favouritism, free visa to all intelligence agents
(haqqani network of PPP)

Let it all happen, democracy will find its way and fix our woes, just like how love find its way sir.

But opposing this all means you support cruel harsh military dictatorship and therefore you either punjab police or Gullu butt gang will be sent to your home

 

[Winchester]

Kick out all the personnel and hand over the structure to Army.

Army has run businesses that have been successfull like NLC and DHA...but we have also seen in these cases some generals getting involved in hanky panky

 

[Jango]

it is over staffed just like PIA and the railways... the solution any leader would take would reduce the staff drastically and remove unqualified idiots effecting their voter base. The companies and the economy can go to hell as long as the parties have their voter base.
Any honest leader can fix these companies but they rather privatize them or keep funnelling money into these junk heeps

Agreed.

Unions and political hires effectively have ruined the landscape of state enterprises (literally).

If you happen to visit Islamabad Airport, you'll see Sher, N-league and Nawaz Sharif's face plastered all over, from PIAC buildings to maintenance hangars.

Lagta hai airport nhn N-league ka campaign office hai!

 

[IN-2030]

Does CPEC not include steel industry crisis?

 

[Armstrong]

it is over staffed just like PIA and the railways... the solution any leader would take would reduce the staff drastically and remove unqualified idiots effecting their voter base. The companies and the economy can go to hell as long as the parties have their voter base.
Any honest leader can fix these companies but they rather privatize them or keep funnelling money into these junk heeps

Daaktar stick to giving people placebos at exorbitant fees to pay for your voracious appetite for pizzas and goat's brain and let us management and finance professionals ascertain how to fix this company !

Mazaaak kar rahaa hoooon !

 

[Gufi]

Daaktar stick to giving people placebos at exorbitant fees to pay for your voracious appetite for pizzas and goat's brain and let us management and finance professionals ascertain how to fix this company !

well with the management and financial professionals flooding the market pretty boys with no real life experience
management professionals have driven our country to the ground with facts and figure manipulation

Mazaaak kar rahaa hoooon !

u mean it

 

[saurav]

Unless new technology is injected and capacity drastically increased, there is slim chance of it ever being profitable. A PSU can not fire employees in numbers. So only option left is to increase its production while keeping workforce same. However this requires great deal of capital and patience from everybody. The process is painful and frustrating but there is simply no other approach.

We are trying similar approach in Burnpur and are hopeful of turning IISCO around.

 

[FunkyGen]

abducted political institutions.

btw what is a political institution?

anyways the people you're abusing pretty much equal the people of pakistan, better remove the flags than and sing praises for the holyland you live in...

 

[HAIDER]

Home or corrupt and ghost employees. Handover to military, they made this profitable last time.

 

[Jazzbot]

Mashallah, experienced team of PML-N is at work here too. Maa Sadkay..

 

[[Bregs]]

better to privatize it

 

[Nilgiri]

I am sure our friend China can help us in this regard, afterall they are the worldwide leaders in the business.

Doubtful. China is already suffering from massive overcapacity. It makes no sense for a Chinese bank to engage in funding steel production elsewhere when they have a myriad of NPAs tied up in the Chinese overexpansion and are trying to find more international buyers to stave off laying off thousands of workers....and slowly refinance and reclaim those NPAs to increase the efficiency of the Chinese economy (which will have to happen sooner rather than later if the growth is to sustain without seeing more crises like we are seeing now in the stockmarket and real estate bubble).

So unless funding for it is guaranteed specifically for steel sector under the China-Pak economic corridor and allied projects...I would steer clear of China in this particular industry. China will be very helpful for anything related to manufacturing from steel though (automobiles, infra, consumer goods) since these industries are steel consumers which China desperately needs to offload its production onto.

If Pakistan is serious about domestically producing Steel profitably and sustainably, I would suggest Pakistan approaches a country like Japan or Germany instead who have the expertise and can efficiently and quickly implement a short term and long term feasibility study and plan for Pakistan Steel industry...and then Pakistan should seek a loan and joint venture project to liquidate the current facility and then overhaul and revamp it to modern standards, cooperating closely with whichever partner nation/company it has chosen.

 

[Faiez]

Pakistani taxpayers are paying the price of socialist bull-crap.

Now continue to put more money in this black-hole and keep on whining when somebody tries to privatize it.

No sane investor would buy this pile of $hit especially when global demand of iron is very low and iron prices are at historic low levels.

just break it up and liquidate the dam thing.....

 

[Super Falcon]

Probleum is govenment is not sincere and whom they put as chief of steel mills is also not sincere

I my self lived in steel town with my uncle when my father died with my mother since 1987 till 1994 somy uncle was enginer there at that period steel mills was doing great people are living happy lifes after it every govt including mushy eat mo ey if not directly but giving posts to those who are budget eaters

Steel mill is most biggest mill in asia today

 

[Sipahi]

In my opinion The best solution is, first they should List Steel Mills in stock exchange and then privatize it by 40pc or 45pc and handover it to new managment which will run steel mills like a corporate house.

Through this Govt. can earn some money too,

I don't know if it is listed in Stock Exchange.