KARACHI: Ministry of Finance, Government of Pakistan, Islamabad has released the sum of Rs.2.55 billion to Pakistan Steel Mills today.
The amount is the 2nd installment of the 1st tranche of the approved restructuring package of Rs. 18.5 billion from the Government of Pakistan.Pay slip for the month of April-2014 has been issued to all the employees of Pakistan Steel.
Moreover, two L/C’s for procurement of Raw Materials have also been opened. The remaining amount will be utilized for payment of utility bills i.e. SSGC, KW& SB and K-Electric bills etc.
Pakistan Steel management is confident that with the release of the 2nd tranche of the approved package, production of the mill would start improving to achieve the capacity utilization targets set by Government of Pakistan.