ISLAMABAD: The management of Pakistan Steel Mills (PSM) has fired another batch of over 500 employees with immediate effect.
According to a letter, written by Riaz Hussain Mangi, Acting DGM, employees have been apprised that Pakistan Steel Mills has been incurring losses for last many years and accumulated losses as on June 30, 2020 are in excess of Rs 212 billion as productive activity at the Mills has been closed until 2015.
The letter further says neither the company has funds to revive the Mills nor are funds available from any other source to revive PSM. In any case, revival of the mill would require, firstly, massive investment and secondly, entail a period of at least two years.
As a first step, through letters of November 27, 2020, about 49% of workmen and 70% of officers were retrenched.
It has now been decided to effect further reduction in manpower in Pakistan Steel Hospital and Medical Department. Consequently, alternate arrangements have been designed to provide Medical Services.
The following categories of manpower have been retrenched :(i) all Doctors and officers except Senior most doctor in regular cadre and Essential Medical Officers of contract and daily wage re four male and four female on LIFO basis:(ii) essential paramedical staff on the basis of LIFO except four dispenser, four nurses, (02 ward boys, , four Staff Nurses (02 Mar & 02 Female), two OT Technicians, three Ayas (female) and ;(iii) all Other Administrative Staff on the basis of LIFO except five Health Workers, one Mali, seven Medical Assistants /Office Assistants/Jr Asstt, Two PC Operators, one Assistant Storekeeper and one Account Assistant.
Employees have been informed that their services terminated by way of retrenchment with immediate effect.
"Although retrenchment is with immediate effect, even then they will be paid wage salary of March 2021," said, Mangi.
In addition to legal dues in accordance with the terms and conditions of employment, if any, they will be paid one month wage in lieu of the period of notice.
Gratuity to retrenched daily wage and contract employees will be paid for the period of employment to be determined from actual date of joining.
Copyright Business Recorder, 2021