Islamabad – In long-awaited relief for Pakistan Steel Mills (PSM) employees, the federal government has released over Rs. 2.87 billion to settle their outstanding dues.
According to official sources, the Economic Coordination Committee (ECC) approved the disbursement after a request from the Ministry of Industries and Production. The funds have been transferred as a 20-year loan from the federal government, which the Steel Mills will repay along with interest.
This financial support comes as a much-needed breather for the thousands of PSM workers who had been waiting for their payments amid ongoing uncertainty about the mill’s future. The disbursement aims to provide immediate relief to employees and restore some stability for their families.
While the loan provides temporary comfort, concerns remain about the long-term viability of Pakistan Steel Mills, once a backbone of the country’s industrial sector. Employees, however, welcomed the decision, expressing hope that the government will also focus on reviving the mill and securing sustainable employment opportunities.
