Near past government reconstituted its board of directors for Pakistan Steel Mills and appointed Chief Executive Officer (CEO) in Pakistan Steel Mills (in merging both offices Managing Director and Chairman) and delegated absolute power to one man (CEO).
It is fact that Pakistan Steel Mills suffered rupees 32 Billons losses in two years and due to these losses government reduced two offices into one. The man appointed as CEO Pakistan Steel Mills Malik Israr Hussain enjoying 2×1. Previous Chairman purchase vehicle Prado latest model 3.8 millions rupees and present CEO demanded a new latest model with latest version Prado for the cost 4.8 millions rupees and also demanding salary package of 0.5 million rupees per month. This is the only example when an industry suffering from heavy losses during last financial years as well as current financial year.
A fresh report published in Daily DAWN that Pakistan Steel Mills reached 5.622 billons rupees loss during the period July 2009 to January 2010, a report regarding estimated losses already have been submitted in lower house of the parliament.
Beside vehicle of worth 4.8 millions rupees our CEO also demanding a mobile set valued about One Hundred Thousand Rupees, As information that a latest Blackberry mobile already existed in Pakistan Steel Mills with CEO, for official use but our beloved CEO denied to use that mobile which was previously used by Chairman Mr. Moeen Aftab Sheikh and M.M Usmani, it is really a great example of frugal and simplicity.
One more new for the readers that due to heavy losses management of Pakistan Steel Mills did not release special adhoc relief i.e. 15% to their employees which was announced in last budget. The reason disclosed loss of the organization. In this situation, for saving Pakistan Steel Mills losses management with due consultation appointed two more directors Birg(R) Shahid and Mr. Rizwan Ahmed, these directors are appointed by separation of department (A&P) into two part as previously these department working under one General Manager. For recovery of these losses our management engaged two Directors at salary package of 0.3 million rupees each per month in addition more employees have been engaged from back door in various departments/sections of Pakistan Steel Mills on heavy package, it is the example of self interest in spite this we should think for national interest.
A humble request to the Federal Minister for Industries and Production that you are a founding member of Pakistan People Party our great leader Shaheed Zulifqar Ali Bhutto laid the foundation stone and Mohterma Benazir Bhutto Shaheed took special interest for this industry which is the mother industry and back bone of our country. Please for God sake save this organization even and otherwise souls of Zulifqar Ali Bhutto and BB Shaheed will never forgive us.