Pakistan Steel Mills Reform & Employee Dues Payment
Pakistan Steel Mills, a major and historic industrial institution of Pakistan, has been facing financial and administrative difficulties for the past several years. Its production has been suspended since 2015 and the institution is facing various challenges. However, the government has recently taken important steps towards Pakistan Steel Mills Reform & Employee Dues Payment to improve Pakistan Steel Mills and protect the rights of its employees. These include payment of dues to retired employees, recovery of encroached land, and anti-theft campaign, which are positive steps towards the rehabilitation of the institution.
Payment of Dues to Retired Employees
The government has provided Rs. 1.366 billion to pay dues to 411 retired employees of Pakistan Steel Mills. This amount will be paid in the form of gratuity, provident fund, and leave encashment. The government is trying to complete these payments by October 2025 to provide financial relief to the long-awaited employees. This measure is not only to protect the rights of the employees but also to restore confidence in the institution.
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Current Employee Status
There are still 899 employees working in Pakistan Steel Mills whose salaries are being paid through government loans. This process is necessary to continue the basic affairs of the institution. At the same time, the process of restructuring the institution is also underway so that Pakistan Steel Mills can be reactivated and strengthened. The government and the administration are working together to revive this historic institution so that industrial activities can be resumed in the future.
Anti-theft campaign and compensation for financial loss
Valuable items of Pakistan Steel Mills such as copper and other metals have been stolen, due to which the institution has suffered financial loss. To reduce this loss, the administration has intensified the anti-theft campaign. So far, 26 FIRs have been registered, and several people have been arrested. The money obtained by auctioning the stolen materials will be used to compensate for the financial loss of the institution. These measures are important to ensure the financial security and administrative transparency of the company.
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Recovery of occupied land
Pakistan Steel Mills has also made significant progress in recovering its occupied land. So far, 20 acres of land have been recovered, while another 38 acres of land are planned to be recovered with the help of the local administration. This land will be brought back into industrial use under the government’s industrial projects. The recovery of land will not only improve the financial condition of the company but will also help in industrial development.
Hope for industrial revival
Although the production of Pakistan Steel Mills has been suspended since 2015, the government’s focus on financial cleanliness, land recovery, and payment of employee dues is being considered as the basis for industrial revival. This reform plan will be helpful in resolving the company’s financial problems, strengthening the management system, and restarting the industrial production process. Through this, Pakistan Steel Mills will once again have the opportunity to play an important role in the country’s industrial development.
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Gulshan-e-Hadeed Housing Project
Another important project of Pakistan Steel Mills is the “Gulshan-e-Hadeed Housing Project” which has been under construction for employees in various phases since 1986. This project covers 18,600 acres in Karachi and provides an important facility for housing the employees of the steel mills. The development of this project is also part of the efforts to restructure the organization and improve the quality of life of the employees.