PSM collapse

Author: Daily Times

Sir: PSM was Pakistan’s biggest industrial production unit established in 1970. Pakistan Steel Mills was a profitable and well-managed organisation since its establishment. Nobody could imagine that this largest industrial unit could ever become bankrupt and couldn’t be able to even pay salaries to its employees.

This steel mills was starting deteriorating in Musharraf’s era done by Shaukat Aziz’s privatization movement. Then over-crowded through political influence and most significant reasons behind this PSM collapse was corrupt management inducted by political vendettas and nobody tried to cure till now.

AHMER IDREES

Karachi

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