SHC orders centre to release funds for PSM pensioners by Aug 31.

KARACHI -- The Sindh High Court warned the federal authorities on Monday that the federal government's accounts would be attached for settlement of dues if the remaining amount of the Pakistan Steel Mills pensioners was not released by Aug 31.

Officials of the ministries of finance and cabinet division informed the SHC that Rs1.30 billion, 10 per cent of the total claims of the petitioners, had been released and undertook that the remaining 90pc amount would be allocated in the upcoming budget.

The two-judge bench headed by Justice Nadeem Akhtar observed that besides the petitioners, all other retired employees of the PSM were also entitled to the same treatment.

Therefore, the bench directed the federal government and the PSM to requisite funds to settle the post-retirement claims of all such retired employees of the PSM and deposit the same with the Nazir of the SHC by Aug 31.

In the last hearing, the bench had granted a last opportunity to the federal authorities to settle all the dues of the PSM pensioners by May 15.

When a set of identical petitions moved by over 10 retired employees of the PSM came up for hearing on Monday, the deputy attorney general placed the statement on record with several reports submitted by the secretaries of finance and cabinet division.

According to these reports and statement, in order to comply with the SHC order the ministry of industries and production in consultation with the finance division had submitted a summary to the ECC of the cabinet for settling the outstanding liabilities of former employees of the PSM who had approached the court.

It further said that Rs12.741bn was approved and out of it Rs1.30bn (10pc of claims of litigants) was released and the remaining amount would be allocated in the budget for 2020-21.

The PSM lawyer confirmed it and submitted that the amount would be...