ECC meeting was Chaired by Dr. Abdul Hafez Sheikh, Prime Minister’s Adviser for Finance Revenue whose agenda was to discuss the functioning of the Pakistan Steel Mills in the country. The foremost requirement was to handle the issue of the existing employees and debt.
The scheme of the golden handshake was approved by relieving all the employees of their duties. The committee announced 20 billion compensation packages for all the employees and each person will be granted with 2.3 million. According to sources, within one month approximately 9350 will be fired from their jobs.
Closure of Pakistan Steel Mills
The mills have been inactive from 2015 and only creating a burden on the economy of the country by elevating the deficit. Apart from this, many billions are being spent every year to maintain the services of the Pakistan Steel Mills. Despite the closure, its employees are enjoying all sorts of privileges and benefits without performing any kind of duty. It has raised concerns that without producing anything why the employers are provided with the payment perk. Previously the Supreme Court of Pakistan was also displeased at this issue of the Steel Mills.
Burden of Loan
The government pays 350 million rupees per month for the salaries of the employees and the amount is added as a loan in the accounts of Pakistan Steel Mills. To overcome this problem, ECC approves firing all the employees of the Mills. The technical supplementary grants have also been approved by the various departments such as Revenue Division, National Heritage and Culture Division, Federal Education and Professional Training, Religious Affairs and Interfaith Harmony Division, and many others.
However, the decision of the Economic coordination committee is not finalized yet. Once the federal cabinet will approve the proposal, then it will be implemented.
Statement of Bilawal Bhutto Zardari
The PPP chairman stood against the decision of firing the employees and blames the government for causing the wave of unemployment in the time of pandemic when everyone is already facing problems. Speaking about the issue of the Pakistan Steel Mills, Bilawal Bhutto Zardari said “Prime Minister vowed to bring back the glory of the mills by taking the necessary measures but the downfall depicts the economic devastation of the country”.
Moreover, he also warned that “PPP will resist this decision by leading the nation as the government is not able to fulfill its responsibilities and targeting the workers”.
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