At the time when Pakistan was developing at the same pace with France and other European countries there is also a famous memory of the Pakistan Steel Mills that were set up with the help of Russia, which the government has now decided to sell as waste.
The strange thing is that till 2008 this mill was running in good profit but later it was closed due to global crisis and other factors which cannot be given any name other than incompetence. In few years a running mill can turn into a wreck. Recently the Russian Consul General posted in Karachi has made a statement that if Pakistan wants, Russia can help Pakistan in the restoration of the steel mills but the intentions of our elite and government do not seem good in this regard which needs to be reviewed, so that great national project can be saved from being sold.
Recently the Karachi Council on Foreign Relations held a meeting on Pakistan-Russia relations in which the Russian Consul General Viktorovich Fedorov participated in which the Russian Consul General said that Russia has always promoted peace in South Asia and the establishment of Pakistan Steel Mill is an example of cooperation between the two countries the Steel Mill was established during Zulfikar Ali Bhutto’s tenure. He said that Pakistan is the first country with which Russia cooperated on diplomatic visa.
In the last three years there have been three different governments in Pakistan, but there has been no change in diplomatic relations with Pakistan. The Russian Consul General offered that they are ready to help for the restoration of the steel mill. There is a need for seriousness on the part of the government and the administration. He said that good progress has been made between Pakistan and Russia in various fields. It was said that the leaders of Pakistan and Russia discussed various fields. Our leaders are also offering Pakistan to cooperate in food security.
On the other hand the Federal Minister of Privatization says that the steel mill cannot be privatized or rehabilitated, so it should be sold.
The federal government has decided to scrap the steel mill and use the land for other purposes. It should be remembered that the Senate Standing Committee on Industry and Production held a meeting chaired by Awun Abbas in which the income of Pakistan Steel Mills in the last 10 years was discussed besides expenses and number of employees to be terminated and their grade wise details were considered. The number of existing employees of Pakistan Steel Mills salary and other benefits, current situation, future planning and privatization were also reviewed in the meeting.
Secretary Industry and Production said in the briefing that there is no buyer of Pakistan Steel Mills in the market, the government has decided to scrap it and use the land for other purposes. The federal cabinet has also approved it. It should be remembered that from 2000 to 2008, these mills were giving profit with an average capacity of 80%. In 2009, the international problem came due to the big banks of the world.
On June 30, 2009, these mills came to 36% capacity and lost 26 billion. The inquiry was conducted by both NAB and the Supreme Court. Federal Minister for Privatization Fawad Hasan Fawad has said that Pakistan Steel Mill cannot be privatized nor can it be rehabilitated. It has been proposed to close the steel mill and create an export promotion zone. He said that from 2018 to 2019, 2 thousand 542 billion was spent on the government institutions. The losses of the government owned institutions have increased much more. 15 big institutions including PIA, Steel Mills have a debt of 2 thousand 65 billion.
It should be remembered that the caretaker government tried to put all the blame on the Tehreek-e-Insaf government but the nation knew what has been done with Pakistan Steel Mills during all the previous governments this national institution has suffered from disaster, which has been written in the books now while Russia is offering so the attention should be paid to its restoration.
