Record of FIRs summoned: Senate panel raises alarm over large-scale theft at PSM

ISLAMABAD: A parliamentary panel on Thursday expressed serious alarm over the continued large-scale theft at Pakistan Steel Mills (PSM), reportedly involving materials worth over Rs10 billion, and sought the complete record of all FIRs from the mill’s management for review.

The sub-committee of the Senate Standing Committee on Industries and Production, chaired by Khalida Ateeb, examined the deepening crisis at the state-owned enterprise.

The panel noted that despite the staggering scale of theft, only one suspension had been made so far – raising serious questions about the state of internal accountability.

“This is not the work of a single individual; it is a coordinated network. Every person involved must be identified and held responsible,” Ateeb remarked.

The committee directed the PSM management to submit a full account of stolen materials – reportedly including wires and other valuable components – along with an assessment of the financial loss incurred.

PSM Chief Executive Office (CEO) informed the panel that both criminal proceedings and departmental inquiries were underway, and due process was being followed against those found culpable.

He also acknowledged that longstanding operational challenges, including electricity and water shortages, continue to affect the functioning of the mill and surrounding areas.

The committee was told that PSM still manages to generate salaries for its employees through its own resources, despite ongoing difficulties.

Concerns were also raised over land encroachments on PSM property. The panel noted that FIRs filed in this regard failed to specify the exact area encroached upon, undermining efforts toward legal clarity and resolution.

Ateeb criticised frequent transfers of secretaries whenever serious efforts were made to address the mill’s problems, which, she said, had hindered continuity in oversight and reform.

The committee called for the formulation of precise terms of reference (ToRs) for a thorough inquiry into PSM’s issues, and also discussed the implications of The State-Owned Enterprises (SOE) Act on the mill’s governance.

To further understand the situation, the panel decided to summon representatives from labour unions and workers’ associations to discuss workforce-related grievances.

Officials from the Water and Sewerage Company will also be called to brief the committee on chronic water supply issues affecting the area.

Copyright Business Recorder, 2025