Another set of valuables worth in the millions of rupees were stolen on Saturday night, despite the Pakistan Steel Mills’ (PSM) three-layered security measures.
According to accounts, a group of thieves got into the main facility of the mill on Saturday and stole copper wire and other components before being apprehended while attempting to escape.
The incident throws insight on the PSM’s security. Without being concerned about security, the criminals were able to access the mill. Earlier this month, a different set of thieves was also discovered on the mill’s property. Additionally, neither of the aforementioned incidents have had a complaint filed against the administration.
Another theft recorded earlier this year involved the theft of copper wire valued at Rs. 10 billion, and it was claimed that the mill’s security system was unable to foil the thieves in time.
The Federal Ministry of Industry and Production, CEO Dr. Saif-ud-din Junejo, and the Privatization Division were informed by the stakeholder organisations of the mill, which included the People’s Workers Union, Progressive Labor Union, and Insaf Labour Union, that the total amount of losses and liabilities at Pakistan Steel Mill had surpassed 612 billion rupees.
Between 2005 and 2022, Pakistan’s economy suffered a $12 billion loss as a result of Steel Mill’s losses and lack of production. Pakistan Steel Mill is currently in a crisis because it lacks qualified management and a board of directors.
The present coalition government is not conducting a thorough inquiry into the loss of billions of rupees, according to information provided to the Federal Ministry of Industries and Production.
Even though the same individuals had been named in a report of theft of billions of rupees due to administrative negligence, corruption, and irregularities, no action has yet been taken against them, some retired individuals were designated key positions in Pakistan Steel Mill on contract and daily wages during the Pakistan Tehreek-e-Insaf (PTI) government.