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Pakistan Steel Mills asks govt for Rs10 billion bailout package

KARACHI : Pakistan Steel Mills officials have asked the government for Rs10 billion bailout package as the company is
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By Imad Uddin
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Pakistan Steel MillsKARACHI: Pakistan Steel Mills officials have asked the government for Rs10 billion bailout package as the company is facing huge crisis.

During the last three years, the Pakistan Steel has taken Rs12 billion as debt, and its interest is increasing every year.

Sources told that due to non appointment of the chief executive, the company’s matters are not running in a smooth way. The board of revenues has sent a summary for appointment of the CEO a month ago.

Copyright NNI (News Network International), 2011

 

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