BATMAN
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A question..
Why doesn't the Ittefaq Steel mills ever falter...
or any other Steel mill in Pakistan.
Ittefaq steel mills has been bankrupted, long time ago.
Since you asked... simple answer is PSM is a political office of PPP, more than an industry.
Not only PSM continue to bankrupt, it also dosn't let any other steel operate around it.
It should be renamed to Peoples Party Steel Mills PPSM!
Even the Iranians can run it better than local goons
Keep operating PSM dosn't make commercial sense.
Value of PSM land (incl. colony) is far more than a new advance plant at some location around GAWADAR.