14 member delegation of ISI to inspect Pakistan Steel Mills tomorrow

  • The headless entity is being run on adhocism policy
  • PSM might be handed over to military-run entity for smooth functioning and revival

KARACHI – As many as fourteen high-level officers of country’s premier intelligence agency, Inter-Services Intelligence (ISI) are scheduled to visit Pakistan Steel Mills (PSM) tomorrow (Wednesday) for a detailed briefing on technical aspects of the entity.

According to a director of ISI, officers of the Directorate ‘desired to visit strategic installations at Karachi to equip them with the requisite knowledge and practical understanding of intricacies involved in the management of strategic installations’ and their security’.

Apart from inspecting different section of the headless entity, the officials of the spy agency will also review the security arrangements in place after being given a rousing welcome by senior officials of PSM.

Rumours swirled following the announcement of the rare visit that the PSM might be handed over to any organisation operating under the ambit of Pak Army with FWO and Fauji Foundation being the most favourite.

According to well-placed sources, the non-operational entity is without any formal Chief Executive and two General Managers occupy positions of Acting Principal Executive Officers (APEOs) against seven PEOs and 24 General Manager’s offices.

PSM was facing a severe financial crunch from 2008-09, as a result of which the entity is only paying net cash salaries to its employees after intervals with the approval of the ECC.

It was unable to pay the provident fund dues after May 2015 and gratuity dues after 2013 to the retired employees. Since then retiring employees have received neither provident fund nor gratuity dues leading to serious social and financial issues, Business Recorder reported.

The delegation’s visit which was initially scheduled for September 27th would likely be deciding the future course of actions for the financially-strapped installation.