Daily Times

The federal government has appointed Brig (retd) Shujah Hassan as Chief Executive Officer (CEO) of the Pakistan Steel Mills.

According to the notification issued by the Establishment Division in Islamabad on Friday, the appointment of Brig Shujah Hassan will be for one year with immediate effect.

The notification says the appointment is subject to termination on one month’s notice by either side.

The Pakistan Steel Mills (PSM) falls under the domain of Federal Ministry of Industries and Production.

Late last month, the PSM Board of Directors had recommended the federal government names of three shortlisted candidates for the post of CEO with priority No.1 candidate having degrees in warfare and strategic studies.

The board finds candidate No.1 to be a better fit given the needs of the revival plan and the prevailing environment at the mills. The Board directed PSM management to forward to the Ministry of Industries and Production for further action.

PSM required a transitory CEO who can fulfil the role of a strong administrator and guardian of the assets of PSM and help execute a plan of action to prepare the mills for a public-private partnership. The transition plan may last from one to two years. During this transition there will be no steel production and focus will be on maintaining all the assets and operating the non-core functions in the most professional and compliant manner, reduce expenses, generate non-core income and manage the late pool of employees with little productive work.