Steel Mills incurred a loss of Rs 169.51 billion in ten years, Hammad Azhar – Express Urdu

The Federal Minister for Industrial Production additionally briefed the Senate on the help acquired for the corona virus. (Photo, file)

Islamabad: The Federal Government has introduced the small print of the deficit of Pakistan Steel Mills over the past 10 years within the Senate.

In a gathering chaired by Chairman Sadiq Sanjarani, Federal Minister for Industries and Production Hamad Azhar within the Upper House, whereas presenting the written particulars of the deficit of Pakistan Steel Mills for the final 10 years, stated that the full operational deficit of Steel Mills in ten years was 169.51 billion. The fiscal deficit within the monetary yr 2018-19 was 16.50 billion.

Hamad Azhar stated that the federal government is continually striving to rehabilitate the metal mills and make them a worthwhile firm. Since June 2013, 34 billion rupees has been paid to the staff of the metal mills.

He stated that the full value of belongings of Pakistan Steel Mills is Rs. 409.68 billion. The choice to denationalise Pakistan Steel Mills will probably be taken retaining in view the privatization coverage. There can also be an choice to run a metal mill in collaboration with joint stakeholders. A proposal for a public-private three way partnership can also be into account. Suggestions are being sought on this. Jamaat-e-Islami and JUI-F oppose privatization of metal mills.

Description of international help to Corona

The Ministry of Economic Affairs, whereas presenting the scenario of Corona within the nation and particulars of international help within the Senate, stated that 15 international locations and worldwide organizations have pledged ڈالر three billion to Pakistan, out of which 26 2.26 billion. Distributed. Donors embody the United States, China, the United Kingdom, Canada, Japan, South Korea, the IMF, the World Bank, ADB and others.

Case of Palestinian Ambassador Connots

Mushahid Hussein Syed raised the difficulty of sending notices to the Palestinian ambassador by the FBR and confiscation of his autos within the Senate and demanded discover. The Chairman of the Senate referred the matter to the related Standing Committee.

Also learn this information: FBR apologizes for giving notice to foreign ambassador

After the National Assembly, the Senate additionally handed the Islamabad Capital Trust Bill 2020 and the Drug Prevention Amendment Bill 2020. Senate passes condolence decision for Justice (retd) Afzal Lone The Islamabad Capital Trust Bill 2020 and the Drug Prevention Amendment Bill 2020 have been handed. The Senate session was adjourned until 5 pm on Wednesday.

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