Karachi. 25.5.2016: Pakistan People’s Party (PPP) senior leader and Senate standing committee on industries and production chairman Senator Taj Haider has deplored that the federal government has rejected an appeal of Pakistan Steel Mills (PSM) for levying anti-dumping duty on steel and steel by-products of PSM. The federal government’s tariff commission had also rejected this appeal and demand of the PSM.
In his statement issued Wednesday, Senator Haider said that the unemployment rate is soaring to skies but the federal government has ignored this point of concern and has taken steps forward to shut the PSM and render thousands of workers as jobless, solely to please the importers’ consortium. In fact, this consortium of steel importers has become so powerful that the Twarki Steel Mills has been shut since past 2 years which was established with foreign investment to the tune of $1.2 billion.
He said that the decision taken by the cabinet’s committee on economic development was caused to fail by withholding necessary funds for the revival f the PSM but still the PSM workers had through untiring efforts took the PSM to the level of self-reliance by ensuring its production capacity up to 68 percent and thus the beacon was very high for the PSM to re-enter the lost phase of profit earning national institution. At this moment, in straight violation to the decision of the committee on economic development, gas supply to the PSM was suspended and now more than the half of the total workforce has been marked for fast retrenchments.
Senator Haider said that the rulers are rather than establishing new industry and feeding the weaker industrial units to stand on feet again busy in laundering money to their off-shoe companies. The country has been left on mercy of steel importers’ consortium.
He said that according to a quarterly report of the State Bank of Pakistan, steel products worth $2.6 billion were imported. This quarterly report has eye-opening details about Pakistan’s steel sector.
Senator Haider demanded for immediate restoration of gas supply to the Twarki Steel and the PSM and leveling reasonable anti-dumping duty so that the indigenous steel producing industry should be protected and promoted.