A major corruption and theft scandal has been uncovered at the Pakistan Steel Mills, where authorities allege that billions of rupees worth of machinery and scrap material were systematically stolen over an extended period. Read More: Supreme Court sends steel mills tax case back for fresh review The investigation was initiated by the Federal Investigation Agency following […]
Pakistan Steel Mills
Shehbaz Sharif’s Moscow visit marks strategic shift in Pakistan-Russia relations
Prime Minister Shehbaz Sharif will visit Moscow from March 2 to 5 in a move that signals Pakistan’s evolving foreign policy amid shifting global dynamics. As the Ukraine conflict reshapes energy routes, financial systems, and diplomatic alignments, Islamabad is actively diversifying its partnerships. Therefore, this visit carries weight beyond symbolism and reflects a calculated […]
Pakistan Steel Mills GM arrested over alleged theft
Karachi police have arrested the General Manager of Stores at Pakistan Steel Mills, Syed Saadat Ali, on charges of stealing iron and other valuable materials from the facility. According to the Bin Qasim police, the arrest was made following a tip-off. Police claimed to recover 40 kilograms of copper and a vehicle allegedly used in […]
Asad Umad chairs ECC meeting regarding IMF discussion
Finance Minister Asad Umar is presiding the Economic Coordination Committee (ECC) meeting in Islamabad. According to sources, Umar has called this special ECC meeting to discuss the matters regarding critical discussions in the United States on International Monetary Fund (IMF) bailout package this week. The finance minister will travel to Washington to participate in the […]
ECC grants approval for giving dues to families of deceased PSM’s employees
ISLAMABAD: The Economic Coordination Committee (ECC) on Thursday has pay dues to the families of deceased employees of Pakistan Steel Mills (PSM). The ECC committee meeting headed by Finance Minister Asad Umer has approved over Rs6.6o billion to be paid to the families of deceased employees of PSM under the head of gratuity and provident […]
Decision to privatise PIA, Pakistan Steel Mills to be deferred
ISLAMABAD: The Board of the Privatisation Commission all set to defer the sale of large, loss-making state-owned companies including Pakistan International Airlines (PIA) and Pakistan Steel Mills (PSM). PC Chairman Mohammad Mian Soomro in meeting on Tuesday said that board has prepared its five-year plan, proposing to defer the sale of large, loss-making state-owned companies Pakistan […]
NAB to investigate Pakistan Steel Mills’ downfall
LAHORE: The National Accountability Bureau (NAB) has decided that it would investigate the downfall of Pakistan Steel Mills. NAB issued a notification on Friday in which it said that it would investigate the reasons behind the downfall of Pakistan Steel Mills and would place the name of those responsible on the Exit Control List (ECL). […]