*ISLAMABAD – The cabinet’s Economic Coordination Committee has takenimportant decision over Pakistan Steel Mills privatisation.*
*ECC approved four months’ salaries for employees of the Pakistan StillMills (PSM) as it dropped the loss-making government enterprise from itsprivatisation list. *
The ECC, a top government body on economic decisions, held a meeting onWednesday in which it decided to drop PSM from its list of government-ownedcompanies that were put under its privatisation plan.
Besides approving the September salary, the ECC also made arrangements torelease the salaries for another three months so the employees don’t haveto wait for the next meeting to get the approval.
The ECC also approved Rs1 billion for employees’ widows to clear their duespending for the last four months.