PSM suffers provisional losses of Rs8.245bn

ISLAMABAD: Parliamentary Secretary for Industries and Production, Rao Ajmal on Thursday said that Pakistan Steel Mill (PSM) suffered provisional losses of Rs8.245 billion during July 2016 to December,2016.

Speaking in the National Assembly during question hour, he said the accumulated losses upto December 31, 2016, were amounting to Rs169.982 billion.

Replying to a question, he said the employees of the institution had been delivered their salaries till December 2016 while the salaries of next two months would be released soon.

He suggested for the constitution of a committee to resolve the issue of PSM.

He said currently steel mill did not have any production as it was closed.