Pak Steel to get another Rs22 bn: Syed Khursheed Shah

[Hyde]

Pak Steel to get another Rs22 bn: Syed Khursheed Shah​

Monday, 12 Jul, 2010

Pakistan Steel has given a lot to the nation. We should not hesitate to provide funds, if needed, for its revival and strength, the Minister asserted. — File Photo

KARACHI: Federal Minister for Labour and Manpower Syed Khursheed Ahmed Shah said on Monday that the government was determined to revive and expand Pakistan Steel, and strongly rejected the impression that the Mill would be privatized.

The Minister was addressing Pakistan Steel workers at the oath-taking ceremony of newly elected office bearers of Pakistan Steel Peoples Workers’ Union within the premises of the Mills.

Central Secretary General of PPP Senator Jahangir Badar, Advisor to the Sindh Chief Minister Rashid Rabbani, Special Assistant to the CM Syed Waqar Mehdi, President PPP Karachi Syed Najmi Alam, General Secretary PPP Karachi Saeed Ghani, Secretary General of Labour Bureau Pakistan and former Sindh labour minister Khawaja Muhammad Awan, Acting CEO of Pakistan Steel Imtiaz Ahmed Lodhi besides officials of the Peoples Union (CBA) were present.

The Federal Minister said Steel Mill has a great potential to grow. It has never been a burden on the national exchequer. Not a single penny has ever been given to it as subsidy.

This project was completed at a total cost of Rs25 billion and it has so far returned to the national exchequer more than Rs97 billion in the shape of duties and taxes.

It has retired entire previous loans and is capable enough to re-pay the new loan of Rs25 billion recently approved by Prime Minister Syed Yousuf Raza Gilani under “Pakistan Steel Bail Out Package.” The PSM has already got Rs3 billion as part of this package.

Pakistan Steel has given a lot to the nation. We should not hesitate to provide funds, if needed, for its revival and strength, the Minister asserted.

Like steel mills in other countries, Pakistan Steel suffered heavy financial losses as side effects of global economic recession and turmoil in the steel industry.

However, he said, the skilled, hardworking and committed workers of Pakistan Steel will turn this Mills around and the work on its expansion will also start soon to achieve its targeted production capacity of 3 million metric tons. This will make the PSM more competitive in local and international markets besides providing more employment.

President Asif Ali Zardari takes great interest in the revival and expansion of Pakistan Steel seeing it as Shaheed Zulfikar Ali Bhutto's gift to the nation.

Prime Minister Gilani is very much concerned about the progress of PSM. He said in 2006, conspiracies started to sell out Pakistan Steel at very low price. Shaheed Mohtarma Benazir Bhutto directed the party leaders to resist its privatisation.

Every institution is not for earning profits, she had remarked adding “My father had established Pakistan Steel to strengthen the infrastructure and economy of the country, and for socio-economic uplift of the masses by promoting down-stream/ engineering industry,” Khursheed Shah quoted Benzair Bhutto.

He said Pakistan Peoples Party (PPP) is the only true representative of democracy in the country and has always worked for the betterment of the poor instead of guarding the interests of the rich.

He listed the steps taken by the present PPP government for the welfare of the workers including repeal of anti-workers laws introduced by last two governments and restoration of thousands of employees in different public sector organisations.

The PPP government has confirmed the services of a large number of employees. 4500 workers in PSM were also confirmed although it was a big challenge in the persisting financial crisis of the Mills.

We have also raised minimum wages of workers up to Rs7500 per month. Syed Khursheed Shah lauded the role of Pakistan Steel Peoples Workers Union (CBA) for the welfare of the workers and the Mills.

He also highlighted the reconciliation policy adopted by Shaheed Mohtarma Benazir Bhutto in the interest of the country and for strengthening of the democracy. PPP Co-Chairman and President Asif Ali Zardari continued the same policy and offered full cooperation to all major political parties/ groups for good of the country and the people.

The Federal Minister for Labour and Manpower, on this occasion, announced to set up C.T. scan and MRI facilities for PSM workers and their families from Workers Welfare Fund.

He also announced that around 4.2 million registered workers will now get their medical treatment even at Aga Khan Hospital, if needed.

Central Secretary General of PPP Senator Jehangir Badar said his party has always been struggling to ensure the respect and rights of workers.

Shaheed Zulfikar Ali Bhutto gave great importance to workers since the formation of PPP and strived for their uplift. The spirit behind nationalization of industries was to ensure a proactive role and involvement of workers in the national economy and in the development of the country.

He said the PPP with the support of the workers will protect Pakistan Steel from all kind of conspiracies.