Rs 380 mln being spent on salaries of PSM employees: Senate told

ISLAMABAD, Dec 20 (APP):State Minister for Industries Sardar Muhammad Arshad Khan Laghari Wednesday
informed the Senate that an amount of Rs 380 million was being paid to the
employees of Pakistan Steel Mills (PSM) under monthly net salaries head.
Responding to various questions during Question Hour, the minister said net cash salaries
(take home salaries to the PSM).
The employees were currently being paid by the government after lapse of 2 to 3 months, he added.
He said the PSM’s employees had been paid their salary up to the month of July, 2017 in
the month of November, 2017.
However, Salaries for the months of August and September, 2017 had been paid, he added.
He said the Corporation was not in a position to generate its working capital requirements
due to stoppage of production since June 2015 due to reduction of gas pressure
by SSGC.
The minister said PSM had very limited sale able inventory per month which could not meet
day-to- day expenditures such as utilities, medical, taxation and Interest
including food, transport, stationery and repair, etc.
Arshad Laghari said the PSM has total 12047 employees. Out of total, 3580 were in officer
cadre, 8047 in staff cadre, 174 contractual and 246 daily wages employees.