According to the BBS express reported on September 18, the privatization committee has admitted that to Pakistan steel (PakistanSteelMill, bar steel) inject 21 billion rupees ($200 million) to restore the capacity utilization action fails to succeed. By the end of August 2015, the capacity of steel is only 1%, close to suspend production.
In April 2014, the government to invest 18.5 billion rupees, then an extra 2.5 billion rupees to pay staff salary, a total of 21 billion rupees. Privatization committee said infusion can help him into steel in January 2015, before the return capacity utilization to 77%.
The steel production again raised questions in state-owned enterprise capital injection policy, however, on September 17 cabinet economic cooperation committee (ECC) meeting still decided to invest 1 billion rupees steel again to pay workers. Preside over the meeting of the ministry of finance for said, and steel and related departments must find a way out, as soon as possible the government cannot have been liable for the debts of the bar steel.
It is reported that the privatization committee chairman Mohammed zubair due to travel to China today looking for investors, hope Chinese companies to buy steel.