The closed Pakistan Steel Mills (PSM) cumulatively caused a whopping loss of over Rs79 billion in the past three fiscal years, of which Rs57.5 billion was booked in interest expenses, as the finance ministry ignored advice to restructure the debt of the closed unit.

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  Muhammad Shoaib / 10 hours
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• 4 min read

ISLAMABAD: According to statistics provided by the Ministry of Industries, a loss of Rs24 billion was booked in the last fiscal year 2025-26 alone, despite the fact that the factory had been shut down by the government of Pakistan Muslim League-Nawaz in June 2015. Details revealed that employees were still getting salaries; there were also […]