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The Pakistan Steel Mills Stakeholders Group has issued a letter to the Caretaker Prime Minister, requesting the restructuring of the Pakistan Steel Mills board and the appointment of qualified management. They believe that appointing management based on merit is essential to revitalize this national asset.
The stakeholders’ group expressed their opposition to the appointment of the Pakistan Institute of Management as a consultant. Currently, the steel mills’ affairs are being managed by an unauthorized executive board, which raises concerns among the stakeholders. The board of directors remains a subject of dispute until the completion of the FIA inquiry.
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The group stated that the reconstituted Board of Directors and the appointment of a professional management team would facilitate the provision of accurate financial data, information on available usable inventories, the condition of the plant’s complexes, human resource requirements for the mill’s revival, and the associated budgetary costs.
Their letter also calls for the hiring of new technical staff and the withdrawal of dismissal letters issued unlawfully. The stakeholders stressed the need to restore the steel mills and regain the business community’s confidence for investment.
Furthermore, they demanded an investigation and accountability for those responsible for the steel mills’ decline from 2005 to 2023 and called for a thorough examination of the plant and machinery by technicians.
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