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Friday, February 26, 2021

SC seeks Pakistan Metal Mills’ privatisation particulars

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A wider shot of considered one of Pakistan’s largest public-sector, Pakistan Metal Mill (PSM). — File picture
  • Supreme Courtroom seeks particulars of Pakistan Metal Mills’ privatisation plan 
  • Prime courtroom appoints Advocate Rashid A Rizvi as mediator for settlement between staff, administration
  • Courtroom not halting privatisation, nevertheless, authorities ought to preserve in view the courtroom’s choice, says CJP

The Supreme Courtroom on Tuesday sought particulars of Pakistan Metal Mills’ (PSM) privatisation plan and appointed Advocate Rashid A Rizvi as a mediator for the settlement between its staff and administration.

Whereas listening to a case on the apex courtroom associated to the promotion of PSM staff, Chief Justice Gulzar Ahmed remarked that Karachi Shipyard, Heavy Mechanical Advanced, and Metal Mills had been non-functional, whereas the staff would “sell all the remains of the mills and retire.”

He stated that the courtroom was not halting the privatisation course of, nevertheless, the federal government ought to preserve the courtroom’s choice in thoughts.

Learn extra: ‘We are going to order closure of metal mills, elimination of all staff,’ says CJP

In the meantime, Federal Minister for Privatisation Muhammad Mian Soomro stated the bidding would happen in September or October, with the mills’ belongings price $100 million.

Furthermore, Federal Minister for Planning and Growth Asad Umar stated that the metal mills’ possession would stay with the federal government.

Final week, CJP had stated that PSM “does not practically exist,” due to this fact, the courtroom will “will order the closure of the company and the removal of all PSM employees.”

Associated: SHC refuses to listen to petition filed by Pakistan Metal Mills staff

Whereas listening to the case on the apex courtroom associated to the promotion of PSM staff, CJP Gulzar Ahmed stated that the Metal Mills’ administration is answerable for the plight of Pakistan’s largest industrial complicated.

Justice Gulzar Ahmed remarked that no wrongdoing might happen with out the concurrence of the administration.

“Did the government take action against the Pakistan Steel Mills’ management?” the CJP requested. 

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