ISLAMABAD: The Na­­tional Assembly Standing Committee on Industries and Production was informed on Friday that Pakistan Steel Mills (PSM) is a piece of scrap and its infrastructure is worthless in the current era.

Syed Hafeezuddin, the chairman of the committee, inquired about the future plan of PSM and the total land area of the project.

Briefing about PSM, Industries Secre­t­a­­ry Saif Anjum said the Spe­cial Investment Facili­tation Council (SIFC), headed by Prime Minister Shehbaz Sharif, has already declared PSM as scrap.

The SIFC has noted that it is nearly impossible to revive PSM with the existing infrastructure and outdated technology.

The committee was informed that it has been decided to utilise around 19,000 acres of PSM land for the establishment of special economic zones.

The committee was apprised that two special economic zones spreading over 500 and 700 acres had been established, while around 700 acres of land had been transferred to Sindh province to establish a modern steel mill with the latest technology and infrastructure.

In reply to queries by the committee members, the industries secretary said the ministry had approved gas supply disconnection to PSM on June 30 this year to prevent further burden of around Rs2.5 billion on the national exchequer.

Published in Dawn, July 27th, 2024

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

From hard to harder

From hard to harder

Instead of ‘hard state’ turning even harder, citizens deserve a state that goes soft on them in delivering democratic and development aspirations.

Editorial

Canal unrest
Updated 03 Apr, 2025

Canal unrest

With rising water scarcity in Indus system, it is crucial to move towards a consensus-driven policymaking process.
Iran-US tension
03 Apr, 2025

Iran-US tension

THE Trump administration’s threats aimed at Iran do not bode well for global peace, and unless Washington changes...
Flights to history
03 Apr, 2025

Flights to history

MOHENJODARO could have been the forgotten gold we desperately need. Instead, this 5,000-year-old well of antiquity ...
Eid amidst crises
Updated 31 Mar, 2025

Eid amidst crises

Until the Muslim world takes practical steps to end these atrocities, these besieged populations will see no joy.
Women’s rights
Updated 01 Apr, 2025

Women’s rights

Such judgements, and others directly impacting women’s rights should be given more airtime in media.
Not helping
Updated 02 Apr, 2025

Not helping

If it's committed to peace in Balochistan, the state must draw a line between militancy and legitimate protest.