PSM CEO seeks Labour Court Approval to Lay-off More Workers
- The CEO of Pakistan Steel Mills (PSM) submitted a plea to the labour court in Karachi today, seeking permission to lay-off more employees.
The Chief Executive Officer (CEO) of Pakistan Steel Mills (PSM) submitted a plea to the labour court in Karachi today, seeking permission to lay-off more employees under section 11-A of the West Pakistan Industries Act.
According to ARY News, the court has adjourned the hearing till the 6th of January 2021, ordering PSM's counsel to convince the court on this issue.
Pakistan Steel Mills was regarded as the backbone of the country, and hence, the court needs to carefully assess if it is possible for PSM to terminate such a huge number of workers during the pandemic.
Although PSM had terminated 4,544 employees last month, the CEO of the Pakistan Steel Mills pleaded with the court to allow for more terminations because it has not been possible to run the mills and the company has become a burden over the national exchequer.
He explains that “the government has decided to privatized the mills and for that more lay-offs are the need of the hour.”
While PSM spokesman prepares a list of those who have been sacked, a workers group, Stakeholders Group, has already rejected the decision claiming that it seems that the state has become irrelevant in the PSM matter.
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