RECENTLY I saw an advertisement by Pakistan Steel Mills for group life insurance of management and executives of the company. I found this strange because the organisation has been closed.
If the company cannot pay the salaries of its over-staffed workers, why should they ask for insurance and other perks?
Pakistan Steel seems to have some stronge power. The three governments of Musharraf, Zardari and Nawaz have all failed to fix Pakistan Steel.
During the PPP government, different ministers provided more than Rs500bn to Pakistan Steel every year. Now Finance Minister Ishaq Dar has been paying the dead company billions of rupees via the Economic Coordination Committee every other month.
The management should spend these payments somewhere and since there is no production, the amount should be spent on salaries and perks.
M. Khan
Peshawar
Published in Dawn, June 26th, 2017
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