ISLAMABAD (PEN) : Sui Southern Gas Company (SSGC) has disconnected Pakistan Steel Mills (PSM) due to non-payment of bills. The SSGC spokesperson indicated that PSM had informed them in a letter about the Economic Coordination Committee (ECC) decision to suspend gas bill payments. Despite requesting details on PSM’s ability to settle the bills, SSGC did not receive a response. Additionally, a letter was sent to the power ministry regarding this matter, but no response was received.
Furthermore, the federal government recently made a decision to shut down Pakistan Steel Mills, a state-owned enterprise that has been facing substantial financial losses over the years. The Secretary of Industry and Production stated that the Sindh government was offered 700 acres of PSM’s total land of 19,000 acres to establish its own steel plant. He emphasized that efforts to find a buyer for PSM last year were unsuccessful, and apart from the 700 acres allocated to Sindh, the remaining land would be used for industrial purposes.
Chief Financial Officer Arif Sheikh attributed the closure decision to PSM’s poor performance and ongoing financial losses.
