*ISLAMABAD – PTI government has taken an important decision over the lossmaking giant Pakistan steels Mills.*
*PTI government has decided to turnaround Pakistan Steel Mills, It has beenrevealed.*
*The government has decided to release all the dues (till 2019) of PakistanSteel Mills, Federal Information Minister Fawad Chaudhry said on Thursday.*
Addressing a presser in Islamabad, the minister said people will see thatunlike their predecessors, this government will turn around the one-timesteel giant, which has Rs43 billion in outstanding debts as of September,2018, according to the central bank’s data.
In November, the Economic Coordination Committee, a top government body oneconomic decisions, had dropped the PSM from the list of government-ownedcompanies that were put under its privatization plan.
There are about 200 public sector companies and an overwhelming majority ofthem are in losses because of mismanagement, operational inefficiencies,ailing infrastructure and political interventions. Collectively, thesecompanies consumed Rs1.3 trillion of the taxpayers’ money as their totaldebt and liabilities rose 23.5% last year.