ISLAMABAD: The Privatisation Commission (PC) on Monday submitted misleading information to National Assembly standing committee on Industries and Production that met here with MNA Sajid Hussain Turi in the chair.
The PC director general informed the committee about progress made so far on disinvestment of Pakistan Steel Mills. He told the National Assembly panel that PSM transaction is on the track and its retired employees have already been paid as per government policy. His assertion that 1228 acres of PSM land will be transferred to its subsidiary baffled the committee members. The PC representive could not explain to the committee what would be the fate of the remaining major chunk of PSM land which irked the members.
The committee members repeatedly asked PC official to give the logic to form a aubsidiary of PSM to transfer it only 1228 acres of land that makes only 5 percent of total land owned by the mill.
The PC director general also could not satisfy the committee members on total value of assets of the mill and its current liabilities.
The committes snubbed the PC official and directed him to give an indepth plan chalked out for sell -off of PSM to the committee in next meeting.
The committee after tbreadbare discussion directed to the secretary ministry of Industry to take Sindh government on board to take its input on PSM disinvestment plan.
Meanwhile, PSMC Stakeholders Group has written a letter to the ministry of Industries and Production, demanding full -scale investigation into the affairs of the mill. The letter duly signed by Mumrez Khan, chairman Stakeholders Group, suggested that a gang of corrupt officials of the mill and hand-picked board of directors were instrumental in turning profit-making PSM into a dead industrial unit. The letter claimed that a powerful mafia having its link with decision-makers in Islamabad has intentionally destroyed key sections like furnaces to bring the mill to a grinding halt. The letter demanded full independent inquiry into the affairs of PSM and fix up to those who were its responsible.
The committee also took up the issue of new entrants of vehicles manufacturers and expressed serious concern over delay in delivery of vehicles to the buyers by MG company.
