{"id":7976,"date":"2016-12-15T17:00:46","date_gmt":"2016-12-15T07:00:46","guid":{"rendered":"http:\/\/leadpakistan.com.pk\/news\/?p=7976"},"modified":"2016-12-15T17:00:46","modified_gmt":"2016-12-15T07:00:46","slug":"troubled-psms-land-to-be-sold-at-cheaper-rate","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/troubled-psms-land-to-be-sold-at-cheaper-rate\/","title":{"rendered":"Troubled PSM&#8217;s land to be sold at cheaper rate"},"content":{"rendered":"<p>KARACHI : Pakistan Steel Mills\u2019 fiscal year journey goes from profit to loss and the national treasure is about to suffer another disaster.<br \/>\nThe CEO of Pakistan Steel Mills has indicated in the sub-committee of Public Accounts Committee (PAC) to sale the mills\u2019 land at the cost of only Rs70 lac per acre. The session was chaired by Dr Azra Fazal at Parliament House.<br \/>\nThe CEO also told that Pakistan Steel Mills\u2019 profit in 2008 was 3 billion rupees while in 2009, it suffered loss of 26 billion rupees.<br \/>\nPakistan Tehreek-e-Insaf (PTI) leader and member of the committee Dr. Arif Alvi was wondered over this huge loss and inquired how can an institution go in such a big loss in just one year. He also said that Pakistan Steel Mills\u2019 land is being sold out after shutting it down purposely.<br \/>\nThe workers of the Steel Mills also protested against this loss and looting.<br \/>\nMuttahida Qaumi Movement (MQM) leader Rashid Godil also showed his concerns over this issue and said this institution is going towards bankruptcy. He also alleged that the land is being sold at cheaper rate.<br \/>\nRashid Godil also offered to buy the same land for more than one crore rupees per acre.<br \/>\nThe authorities have said that privatization of Pakistan Steel Mills will be completed in three months. The total land of Pakistan Steel Mills has also been calculated for this purpose, which is nineteen thousand acres.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI : Pakistan Steel Mills\u2019 fiscal year journey goes from profit to loss and the national treasure is about to suffer another disaster. The CEO of Pakistan Steel Mills has indicated in the sub-committee of Public Accounts Committee (PAC) to sale the mills\u2019 land at the cost of only Rs70 lac per acre. The session [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-7976","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Troubled PSM&#039;s land to be sold at cheaper rate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/troubled-psms-land-to-be-sold-at-cheaper-rate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Troubled PSM&#039;s land to be sold at cheaper rate\" \/>\n<meta property=\"og:description\" content=\"KARACHI : Pakistan Steel Mills\u2019 fiscal year journey goes from profit to loss and the national treasure is about to suffer another disaster. The CEO of Pakistan Steel Mills has indicated in the sub-committee of Public Accounts Committee (PAC) to sale the mills\u2019 land at the cost of only Rs70 lac per acre. 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