Many times it is reported that Government of Pakistan spends Rs.5 billion on the State Owned Entities (SOEs) of the country. Pakistan Steel is also incorporated in the list of these SOEs. The fact is that Pakistan Steel is the only sole steel maker of the country, who was given sum/amount from fiscal year 2008-2009 as debt along with heavy interest rate as that is about 8 years, if the loans were divided on 8 years the per year sum is made less than Rs.8 billion per year, means less that 2%. This amount was not as grant/aid but as debt which is still owed.
Karachi, March 1.