Bail-out package for PSM lauded

KARACHI  - Advisor to Sindh Chief Minister on Relief, Haleem Adil Shaikh has welcomed Rs 8.5 billion package for Pakistan Steel Mills and said this will help revive this leading industry in public sector.In a statement issued here on Tuesday, he congratulated President Asif Ali Zardari, PML-Q chief Chaudhry Shujaat Hussain, Deputy Prime Minister Chaudhry Pervaiz Elahi, Federal Production Minister Anwar Ali Cheema on injecting such a big amount into PSM.The Advisor said that the financial package approved by Economic Coordination Committee (ECC) would strengthen Pakistan Steel Mills (PSM) which was facing financial crisis. Besides solving problems relating to finance, the package would help increase Pakistan Steel production that has dropped to the low level.PSM is very important national organization in public sector.  It has been providing employment to millions of people directly or indirectly besides supporting various industries. It has been playing a great role in the economy and development of the country, he said.Haleem Adil Shaikh said that it was top priority of the Government to revive and expand Pakistan Steel, he said adding that this package shows its commitment. 

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