Islamabad: The meeting of the Sub-Committee of the Senate Standing Committee on Industries and Production was held under the convenership of Senator Khalida Ateeb. The Convener welcomed Senators Syed Masroor Ahsan and Husna Bano to the session, while Senator Syed Waqar Mehdi attended as a special invitee.

The Sub-Committee reviewed the pending gratuity payments of retired employees of the Pakistan Steel Mills (PSM). The Chief Executive Officer (CEO) of PSM informed the Committee that gratuity had been paid to 288 retired employees, while payments for the remaining 293 cases are expected to be completed during November 2025. The Committee emphasized that liabilities of deserving retired employees must be cleared on a priority basis.

Senator Syed Waqar Mehdi raised the issue of excessively high electricity bills - reportedly 400 times higher - being charged to residents of the PSM area. The CEO clarified that subsidized rates are provided to serving employees, whereas encroachers and unauthorized occupants within PSM premises are charged higher rates.

The CEO further apprised the Committee that PSM salaries had not been revised since 2012. However, adjustments have recently been made to align with the basic salary structure set by the Government of Pakistan.

Senator Syed Masroor Ahsan expressed concern over the absence of PSM's financial experts and directed that the Finance Department be summoned in the next meeting. He also noted with concern the non-provision of required data by relevant authorities. The Committee directed PSM management to submit details of the current copper stock and the estimated value of copper and scrap lost to theft over the past decade.

Senator Waqar Mehdi recommended conducting a third-party evaluation of PSM's existing copper and scrap inventory. Taking serious notice of repeated theft incidents, the Convener emphasized the need to identify and dismantle the network involved. Mr. Memraz Khan of the PSMC Stakeholders Group also attended the meeting and shared key facts and figures regarding PSM operations.

In conclusion, the Convener directed that the next meeting of the Sub-Committee be held in Karachi to conduct an on-ground review of all PSM-related issues and urged the authorities to ensure early resolution of pending matters.