JI wants bailout, not privatisation for Pakistan Steel Mills

[Edevelop]

KARACHI: The Jamaat-e-Islami Karachi Amir Muhammad Hussain Mehnati has urged the ruling regime to take immediate note of the problems plaguing Pakistan Steel Mills (PSM), demanding a bailout package for the struggling institution.

Talking to a labour union delegation at Idara Noor-e-Haq on Saturday, Mehnati praised the efforts of newly elected officials to safeguard institutions like the Pakistan Railways and to cop the power crisis hurting the country. He asked the Prime Minister Nawaz Sharif and Federal Finance Minister Ishaq Dar to react with similar measures for the PSM.

Mehnati expressed deep concerns over the non-payment of staff salaries in the PSM. He said he thought it was still possible to pull the PSM out of crisis and transform it into a profitable public entity, if the due reforms were adopted.

It is worth noting that if approved, this would be the third such bailout in as many years. The PSM has already been granted Rs75 billion in bailouts over the past three years.

The Pakistan Steel Labour Organisation Union General Secretary Zafar Khan apprised JI leadership of the issues facing Pakistan Steel Mills. He said that former ruling regimes had tainted this great organisation with corruption and nepotism. Efforts to pave the way for privatisation had further ruined it.

Khan elaborated that as late as 2008 – when the ex-ruling regime assumed the office – the PSM was a profitable organisation . But over the next five years, salary payments had become a headache for the same organisation.

Khan cited the information as evidence of the corruption inherent in the former government. He also criticised the role of the Collective Bargaining Agent (CBA) in worsening the situations of the institution. He urged the JI leadership to step forward and make due efforts to realise the payment of salaries and reforms in the PSM.

The JI Karachi Amir assured the labour representatives of the same cooperation and support as the union enjoyed from JI in the past. He demanded the government to quit plans of privatising PSM and instead, appoint honest and responsible management for its revitalisation. He demanded immediate reforms and restructuring of the management, as well as the appointment of a new Chief Executive Officer.

JI wants bailout, not privatisation for Pakistan Steel Mills – The Express Tribune

Any comments from PTI ? You people are coalition partners

 

[darkinsky]

and PMLN bhanja, bhateja, chacha, mamon, beta, beti, or other relatives will buy steel mills

what to expect, PMLN guys are known for running steel foundry arnt they?

 

[muse]

and PMLN bhanja, bhateja, chacha, mamon, beta, beti, or other relatives will buy steel mills

what to expect, PMLN guys are known for running steel foundry arnt they?

What does it matter who will buy the Steel mill? What should matter is that the Pakistani treasury will not have this loss making monster on it's books anymore

 

[BATMAN]

JI and PTI were deadly opposed to its privatization, because Saudi investors were buying it.

Now, PTI is in govt. and they will not oppose its privatization.

Anyway, relations with Saudi Arabia had been already soared, no hope of any offers from there side.

 

[Cheetah786]

JI and PTI were deadly opposed to its privatization, because Saudi investors were buying it.

Now, PTI is in govt. and they will not oppose its privatization.

Anyway, relations with Saudi Arabia had been already soared, no hope of any offers from there side.

Privatize every and any government owned business regardless of who buys it.

 

[xyxmt]

and PMLN bhanja, bhateja, chacha, mamon, beta, beti, or other relatives will buy steel mills

what to expect, PMLN guys are known for running steel foundry arnt they?

stupidity shows from every post you make, all you have is two same lines for every response

 

[darkinsky]

What does it matter who will buy the Steel mill? What should matter is that the Pakistani treasury will not have this loss making monster on it's books anymore

to government ko bhi privatise kerdo na?

government is the most corrupt loss making organisation of pakistan

these same ganjas were behind chaudry iftekhar when he was kicked out by mush for stopping privatising the steel mills?

now ganjas backing away from what they did last time?

all organisations like steel mills, PIA etc are having bad management issues and nothing else

the management is not appointed on merits but by bhanja bhateja of the government officials

 

[RazorMC]

No more bailouts, just let this go.
But the privatization process needs to be transparent and corruption-free or these guys will sell it for pennies on the dollar.

 

[Amaa'n]

So if i recall correctly, back in Musy' era, now this is 2006 we are talking about when finance minister Hafeez Shiejh gave his plans for privitizing sugar mill, steel mill, and pia, and what did CJ did back than? Are we going not going to make the mess out of it this time?.....though insupport the move for privitization, but cant take hypocrisy

 

[muse]

So if i recall correctly, back in Musy' era, now this is 2006 we are talking about when finance minister Hafeez Shiejh gave his plans for privitizing sugar mill, steel mill, and pia, and what did CJ did back than? cant take hypocrisy

But that's not entirely fair, you know I'm no supporter of the CJP, but it's not just the issue of privatization it was the particular details of that case - of course the CJP is highly partisan and has thus far not made trouble for Nawaz and the boys, maybe he hopes for the Presidency, but he is a vindictive SOB and entirely untrustworthy - PML-N and Pakistani politics and judiciary will be better off without him.

 

[Amaa'n]

But that's not entirely fair, you know I'm no supporter of the CJP, but it's not just the issue of privatization it was the particular details of that case - of course the CJP is highly partisan and has thus far not made trouble for Nawaz and the boys, maybe he hopes for the Presidency, but he is a vindictive SOB and entirely untrustworthy - PML-N and Pakistani politics and judiciary will be better off without him.

This organizations should have been off the govt's books long time ago, the only reason they kept on is so taht PPP could have something to get their jiyalas into. Infact i believe that we should sell the railways too, private entities might make better use of it.

 

[muse]

This organizations should have been off the govt's books long time ago, the only reason they kept on is so taht PPP could have something to get their jiyalas into. Infact i believe that we should sell the railways too, private entities might make better use of it.

Yes we agree but lets face facts that in Pakistan, it is very easy to make people hate anybody or anything that is successful, this of course means businessmen - we are kind of used to failure and successful businessmen are suspicious. Look the whole electric power mess is the same story, with the govt as a middleman, just get the govt out of it and let the utilities deal with their consumers, but noo, where's the money in that?

 

[Cheetah786]

=darkinsky;4524354]to government ko bhi privatise kerdo na?

Theek hai 10 dollars de aur tu government bun ja

 

[pkuser2k12]

people championing privatization?

what a joke

people like nawaz family,mian mansha,malik riaz,karem dhadi etc such people will make these corporations profitable.OMG

they will monopolize like sugar mills,flour mills etc even poultry to take prices up

same will go will electricity case in point the rpp scandal 5 rs ki chez 50 rs mayn and so on and so forth

monopoly in cement,steel etc so not a good point to privatize

 

[Amaa'n]

Yes we agree but lets face facts that in Pakistan, it is very easy to make people hate anybody or anything that is successful, this of course means businessmen - we are kind of used to failure and successful businessmen are suspicious. Look the whole electric power mess is the same story, with the govt as a middleman, just get the govt out of it and let the utilities deal with their consumers, but noo, where's the money in that?

You are suggesting, same as they have in UK? well that is correct, do the same with railways. But what can I say, Tax is not enough to fill their pockets is it

people championing privatization?

what a joke

people like nawaz family,mian mansha,malik riaz,karem dhadi etc such people will make these corporations profitable.OMG

they will monopolize like sugar mills,flour mills etc even poultry to take prices up

same will go will electricity case in point the rpp scandal 5 rs ki chez 50 rs mayn and so on and so forth

monopoly in cement,steel etc so not a good point to privatize

So what you suggest we do my dear? its not like they are giving us back the best