ECC approves releasing one-month salary of PSM employees

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ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday approved the release of one-month salary of Pakistan Steel Mills’ (PSM) employees.

Finance Minister Asad Umar chaired an ECC meeting which focused on a seven-point agenda.

According to sources, over Rs370 million will be released as salaries of the PSM employees for September 2018. The committee also accorded approval for release of Rs1 billion for widows of pensioners.

“The ECC further decided to not bring up the issue of PSM employees’ salaries during the committee’s meetings for the next three months,” sources said. “It was decided that the matter should be resolved by the Finance Division and Ministry of Industries.”

Further, the ECC accorded approval for the import of 50,000 tonnes of urea. During the meeting, the Ministry of Industries and Production informed that dealers were involved in the recent increase in cement prices. Following this, the ECC directed provincial governments to monitor the prices.