Karachi: (HRNW) Pasban Democratic Party (PDP) Chairman Altaf Shakoor here Sunday urged the Special Investment Facilitation Council (SIFC) to get opens the largest industrial unit of the country Pakistan Steel Mills (PSM) to bring in local and foreign investment.
Congratulating the SIFC on expansion of its scope, he said that the PSM was a profit earning entity but the economic hitmen of the external forces got this premier industrial complex of Pakistan through over-recruitment and other conspiracies. He said with the closure of PSM, the country was pushed 100 years back in terms of large sector steel making and industrialization. He said a large number of direct and indirect job opportunities died with the sad closure of the PSM. He said the conspirators put the final nail in the coffin of the Pakistan Steel Mills by getting its gas supply disconnected thus complete non-working of its furnaces and ovens. He said this is amongst the greatest conspiracies against the people of Pakistan in the history of the country.
Altaf Shakoor said as per media reports, Russia was keen to get the PSM reopened. He said the revival of the Pakistan Steel Mills is challenging but not impossible. If a consortium of local and foreign investors could be formed there is no reason why the PSM could not be reopened. He said it is high time that all surplus employees of the PSM are kept in a surplus pool and the mills is privatised or run through competent people at the earliest. He said the government is already paying the salaries of the PSM employees so there would be no issue if they are kept in a surplus pool.
He said other closed entities like the Machine Tool Factory and Korangi Fish Harbour should also be made functional, while loss making PIA should be privatised on fast track basis. He said the SIFC has emerged as a ray of hope for the revival of Pakistani economy and it should be given proper legal cover through some ordinance so that its role continues uninterrupted after ending of the present interim government.
He said failing economy is our worst strategic weakness and it would surely affect our national security as the debt trap would finally result in a complete political surrender of Pakistan sooner or later. He said no there is an opportunity to fully utilize the forum of SIFC and steer the country clear of ongoing economic crisis. He said the nation must swallow the bitter pill and unpopular and tougher decisions should be made to privatise or restructure all loss making state owned entities. He said the government should focus not to feed these white elephants but divert these precious funds to repay our loans to break the deadly debt trap.