DNA
\nISLAMABAD
\nLeader of the business community and former President ICCI Shahid Rasheed Butt on Saturday said the trading community supports the decision of Prime Minister Imran Khan to lay off thousands of employees of Pakistan Steel Mills (PSM).
\nHe defended the government\u2019s decision to terminate the services of over 9,300 workers of the PSM to avoid losses to the tune of billions of rupees as the fragile economy cannot sustain white elephants anymore.
\nShahid Rasheed Butt said that thousands of employees of PSM have failed to produce one kilogram or iron in the last two years but getting salaries and benefits.
\nHe added that opposition is opposing the move as they have adjusted thousands of political workers in this unit pushing it to bankruptcy. The business leader said that coronavirus has bled the masses white and they cannot bear the burden of keeping the failed corporations alive artificially.
\nThe funds wasted by failed state-run companies are more than our defense budget and this money should be used for the welfare of the people, he said, adding that employees of other unsuccessful companies should also be fired without any delay.
\nHe lamented that Railways will need another injection of Rs35 billion to remain operational, PIA which has wasted Rs110 billion during the last two years will require Rs55 billion while power distribution companies will waste Rs170 billion during the next year.
\nHighly influential oil mafia will continue to plunder masses with the help of OGRA for which masses will be made to pay, he said, adding that industrialists will continue to evade tax, retailers and wholesalers will resist taxation measures, landed nobility will not pay taxes while masses will pay the bill for their princely living. <\/p>\n","protected":false},"excerpt":{"rendered":"
DNA ISLAMABAD Leader of the business community and former President ICCI Shahid Rasheed Butt on Saturday said the trading community supports the decision of Prime Minister Imran Khan to lay off thousands of employees of Pakistan Steel Mills (PSM). He defended the government\u2019s decision to terminate the services of over 9,300 workers of the PSM […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-125482","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n