ISLMABAD: Federal Minister for Production Mushtaq Ali Cheema has warned Pakistan Steel Mills (PSM) administration that it would be held responsible if production does not increase despite bailout package, Geo News reported on Thursday.
Speaking to media after the inaugural ceremony of Industrial Facilitation Centre, he said that the CEO and the administration of the Steel Mills would be wholly responsible if the money ‘sank’.
Cheema said that Rs14 billion given as bailout package would be recovered from the Mills administration if the amount ‘sank’.
The minister said that steps were being taken to increase production of the Mills and run it in profit. However, he said that there were some difficulties in acquiring raw material.
He said that the Steels Mills was running on 14 percent of its total capacity.
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