ISLAMABAD: The National Assembly’s Standing Committee on Industries and Production on Thursday expressed concern over the reported theft of Rs10 billion material and equipment from Pakistan Steel Mills (PSM).

The chairman of the committee, Syed Ghulam Mustafa Shah, said that it was a matter of grave concern that the material and equipment worth billions of rupees had been stolen from PSM.

Mr Shah directed the Ministry of Industries and Production to pursue the case effectively with the Federal Investigation Agency (FIA) and ensure that the inquiry was not left incomplete so that culprits were brought to justice.

The committee decided to discuss the privatisation of PSM with the Privatisation Commission in the next meeting.

The committee also expressed concern over the shortage of urea fertiliser despite the fact that it was not being used in the country nowadays due to heavy rains and floods.

After discussions on the subject, the chairman of the committee directed the ministry of industries and production to ensure the availability of urea at affordable prices and also take concrete measures to stop its smuggling across the border as its price was higher in international markets.

Earlier, the secretary of the ministry of industries apprised the committee of the efforts made by the ministry to provide subsidy to farmers in farm machinery and to bring down the prices of automobiles in the country.

The chairman of the committee informed the members that Prime Minister Shehbaz Sharif would soon announce a special subsidy for farmers to help them increase per acre yield and to boost up the country’s economy.

The committee also expressed concern over the price hike of automobiles in the country. The officials concerned informed the committee that fluctuations in the rate of dollar had been a key factor for increase in the cost of production.

The committee directed the ministry of industries to take stringent measures to stop the monopoly of the car manufacturing sector and devise a strategy to end the role of middlemen to reduce the prices of vehicles in the country.

Published in Dawn, August 26th, 2022