Rs18.5mn bailout of PSM not properly used, SHC told

KARACHI: The Sindh High Court was informed on Monday that the amount of Rs18.5 million bailout government package for the Pakistan Steels Mill (PSM) was not properly used, making it difficult to pay its monthly salaries to over 16000 employees.

This was stated by the PSM management in its reply submitted to a division bench which was hearing a petition filed by Insaf Trade Union against non-payment of salaries to the PSM’s thousands of employees for the previous four months.

The management told the judges that over 16,000 employees could not be paid salaries due to the financial crisis faced by the state entity, adding a government bailout package worth Rs18.5 million was given to the PSM, but unfortunately this amount has not been used properly.

The mills management requested the court to dismiss the petition of Insaf Trade Union as it was not a recognized collective bargaining agent.

The petitioner, Insaf Trade Union, said that over 16,000 employees had not been paid salaries despite promises made by the management for the last four months. It claimed the employees were suffering, but the mill’s management had failed to honor its repeated promising to clear their dues.

The court was pleaded to order the management immediately pay the salaries to the employees.

The post Rs18.5mn bailout of PSM not properly used, SHC told appeared first on Pakistan Press International.

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