PPP responsible for losses of PSM: Dr. Shahbaz Gill

ISLAMABAD: Special Assistant to the Prime Minister on Political Communication Dr. Shahbaz Gill on Wednesday said it was Pakistan People’s Party (PPP) that has played a key role in losses of Pakistan Steel Mill (PSM), as its deficit reached Rs. 450 billion from Rs. 10 billion profit.

Reacting to spokesman Sindh government Murtaza Wahab, he said those who are talking about industrial growth are actually behind the losses of Pakistan Steel Mill (PSM) and responsible of its closure, said a press release.

Shahbaz Gill said the recovery of economy by strenuous efforts of present regime, the political shop of the corrupt alliance has closed down and now they are criticizing for the sake of criticism and are not digesting the economic growth.

He said they are the same people who also made such policies to cause losses to Pakistan International Aireline (PIA).

Dr. Shahbaz Gill said despite COVID-19 pandemic, Prime Minister introduced policies to open the business and drive the industrial wheel of the country.

“The trade volume of Pakistan Stock Exchange (PSE) was recorded at a 4-year high due to the revival of industries,” he said.

He said from July 2020 to March 2021, 19,000 new companies have been registered with the Security Exchange Commission of Pakistan (SECP), adding that ventilator, heart-stent, mobile manufacturing have also started in the country.

He said large scale manufacturing recorded the highest monthly growth in 12 years.

Dr. Gill said Pakistan has also improved its ranking globally in the Ease of Doing Business Index and grabbed 39th position, which is the best since 2013.

He said for the first time since 2016, foreign exchange reserves were exceeded to US dollar 23 billion, adding that commercial bank reserves also witnessed record growth in 18 years.