Govt decides to dissolve PSM BOD.

ISLAMABAD -- Government has decided to dissolve Pakistan Steel Mills Board of Directors (PSM BOD) after laying off thousands of its employees .

The service term of chairman BOD Amir Mumtaz and other members has been completed and no clear policy has come from government to run the mills. Therefore, decision has been taken to sack BOD.

PSM Stake holders group convener Mumraiz Khan has said a sum of Rs 85 billion in respect of 9350 existing employees, 6500 employees and 1400 dealers, supplies and contractors has been stuck up in steel mills. When will government pay them, it is not known to them. No policy seems to be in sight on privatization of the mills or on running the mills under public-private corporation patter.

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