ECC approves firing all Pakistan Steel Mill employees

[S.Y.A]

T


It might seem as a linear transaction, but in my opinion its a price we are paying to end the blackmailing political unions working on behest of their backers, and to get rid of the politically appointed. We should at the least go for gov private partnership, with management and majority ownership to the latter. And let them hire the workforce. This will end the political interference culture.

Sell 51%. The pvt org should have the controlling share. The govt can eat what they earn.

 

[Trango Towers]

What is going on in this country. Why firing all the employees. One should fire the unnecessary staff and cut cost and by getting rid of the excess staff, made it viable to do business. But seems that they want to shut down the steel mills completely and switch over to imports. Bad planning

Which bot of steel mills have not been running for years did you miss?

 

[Patriot forever]

Sell 51%. The pvt org should have the controlling share. The govt can eat what they earn.

Exactly it will definitely introduce a competitive and productive environment. Big private firms in Pakistan have a cut throat approach when it concerns their own benefit. Money is the best of incentives in our society.

 

[Materialistic]

Excellent. Should have been done a long time ago. Most of the employees are political appointments. Wait for their ppp and plmn backed unions to challenge this in court, and sellout judiciary to spring into action to save democracy.

Exactly, I bet this will happen in a week's time. But this is exactly what happened when each of the previous governments tried to privatize or fire politically hired staff and the opposition then protested to stop it.

We are not on a highway but a round about.

 

[Cornered Tiger]

Russians are up and ready to bid for Steel Mills. Privatization of Steel Mills was fast tracked by present Government when Russians expressed interest last year even when they know about huge debt and liabilities.

Nobody else was interested let alone Chinese. If they had some interest, this could have happened in NS times where they had another project to take kickbacks of billions. I dont know about Chinese interest at present.

Exactly, I bet this will happen in a week's time. But this is exactly what happened when each of the previous governments tried to privatize or fire politically hired staff and the opposition then protested to stop it.

We are not on a highway but a round about.

This time this all has happened after successful dialogues with employees union. I hope they will not disrupt the matter now with political ambitions.

 

[Materialistic]

Russians are up and ready to bid for Steel Mills. Privatization of Steel Mills was fast tracked by present Government when Russians expressed interest last year even when they know about huge debt and liabilities.

Nobody else was interested let alone Chinese. If they had some interest, this could have happened in NS times where they had another project to take kickbacks of billions. I dont know about Chinese interest at present.



This time this all has happened after successful dialogues with employees union. I hope they will not disrupt the matter now with political ambitions.

It will be great news, if it goes through well and we have a good alternate plan to revive. Because the big 8 corporations including SteelMill and PIA give huge blows to economy and they need to be sorted - no matter what.

Do you have a credible source on it as you mentioned about employee unions being taken care of already!

 

[POPEYE-Sailor]

So we 22 crore people will be paying their 2.3 millions for 9000 employees each in form of more taxes?

Nope, 2 crore people of khi city will pay in taxes. bcz 80% tax giving by khi in Pakistan.

 

[Liquidmetal]

Please fire all PIA employees next. They are all corrupt and also do nothing!

Most employees are PPP/PML-N political appointees that have royally fooked up a great company. Sack them all and rebuild from scratch.

 

[Baghial]

steel mill ka beraha garak karnay main in masook ky 4 haat thy........Steel mills Chairman Major General (r) Zaheer Ahmed Khan....

but as usual , they blame the workers .............. since 2017......... chinese are hungery to buy it...

ishaq dar did 1 good thing , he stopped them from buying it

after 3 years, imran khan and his certified incomptents advisors are planning to sell it again it to chinese.........

mostly all of pakistan is gir-ve now,...........

 

[Indos]

What is going on in this country. Why firing all the employees. One should fire the unnecessary staff and cut cost and by getting rid of the excess staff, made it viable to do business. But seems that they want to shut down the steel mills completely and switch over to imports. Bad planning

Thats correct, Indonesia state owned steel company, Krakatau Steels, have scored lost since 2012 when ASEAN-China FTA started to be effective. Since the beginning of last year, new CEO is appointed, a 45 years old man with a very good record in turning a non profitable state owned company into a profitable one. His name is Silmy Karim and has made very bold measures like firing many employees, restructuring debt, and he also paid a respected consulting company to give solution. At the first 3 months of this year, the company has turned into profit after 8 years of loss, AlhamduliLLAH. Krakatau Steel is a big company, more like conglomerate with many subsidiary companies that include hotel chain and port.

Silmy Karim

https://www.thejakartapost.com/pape...-steel-books-first-profit-in-eight-years.html

He even fight his own government when he saw policy that favors steel import during 2019.

 

[Aspen]

Most employees are PPP/PML-N political appointees that have royally fooked up a great company. Sack them all and rebuild from scratch.

If we do sack every person in Pakistan that is PPP/PML-N appointee we will fire half of people in Pakistan. They may be corrupt but alternative is people who have no work experience

 

[Pakistan Space Agency]

Cartoon-e-Azam PM Imran Khan promised the Sun and the Moon during elections but only imposed poverty and hopelessness on the country while he arrogantly flies around in a helicopter carefree.

 

[AZ1]

Cartoon-e-Azam PM Imran Khan promised the Sun and the Moon during elections but only imposed poverty and hopelessness on the country while he arrogantly flies around in a helicopter carefree.

Just recently petrol price down to 42 rupees.

 

[Patriot forever]

If we do sack every person in Pakistan that is PPP/PML-N appointee we will fire half of people in Pakistan. They may be corrupt but alternative is people who have no work experience

Actually in my opinion, in this particular case steel mills was used as a dumping ground to reward political workers, who never met the merit, and I highly doubt work experience mattered in their selection over loyalty to a particular party. Over the last 8-10 years a profitable institution was ruined and closed, and now has a debt of 550 billion.

 

[Syed1.]

https://twitter.com/x/status/1268178696361426947

2-3 years of pay.... still know-it-all experts are barking. If you cannot find another job or even set up a paan ka khoka or fries ka thela in 2-3 years then its on your head, the government cannot finance your incompetence.