Staff Reporter
Islamabad
The Federal Government has disbursed Rs. 24.42 billion among the retired employees of Pakistan Steel Mill (PSM) in order to clear the pending payments of the employees who have been waiting for their payments since 2013.
The retired employees have expressed their gratitude to the Prime Minister and Minister for Industries and Production, Muhammad Hammad Azhar for alleviating the hard ships of retired employees in their old age, said a press release issued by Ministry of Industries and Production here on Wednesday.
The government has released an amount of Rs. 24.42 billion in two tranches amounting to Rs. 12.741 billion and Rs. 11.680 billion respectively.
The total number of the retired employees who received their post retirement dues is 7594 with an average amount of Rs. 3.22 million (approx.) per employee.
Prior to this, the present government has paid Rs. 1.26 billion in January 2019 for the assistance of families of the deceased employees of PSM.
It is pertinent to mention that PSM has not been generating income since 2015 due to its closure. Realizing the plight of the retired employees of PSM, the government has made a huge payment of Rs. 24.42 billion which has been overdue since 2013.
