Transparency Int’l seeks action against ‘illegal’ PSM revival plan

‘Award of PSM restoration contract to HUBCO and other private companies is a violation of PPRA rules’

ISLAMABAD: Transparency International (TI) Pakistan has said that the award of contract for restoration of Pakistan Steel Mills (PSM) to HUBCO and other private companies is a violation of Public Procurement Regulatory Authority (PPRA) Rules, 2004.

TI Pakistan, in a letter to the PSM chairman, has said that the proposed award of contract for restoration of PSM to HUBCO and other private companies is a violation of rule number 3 of PPRA Rules, 2004, which is applied to procurements made by all procuring agencies of the federal government whether within or outside Pakistan.

Requesting the PSM chairman to examine the serious complaint, TI-Pakistan has asked him to take necessary action against all those who are involved in corrupt practices.

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TI Pakistan also requested the prime minister’s secretary, National Accountability Bureau chairman, Prime Minister’s Inspection Commission chairman, Supreme Court of Pakistan registrar etc. to take action on the matter as per their mandate.

Sources in the Ministry of Industries said that the PSM board has so far not agreed with the ministry’s plan to hand over the task of PSM revival to private steel mill companies and Hub Power Company Limited. They said the PSM board meeting, which was expected in the first week of this January, could not be held due to difference of opinion over the proposed revival plan of PSM.

Sources further claimed that important administrative and managerial posts of PSM are lying vacant for a long time, adding that junior officers are enjoying acting charges of senior posts since there is no chief executive officer (CEO) and chief financial officer (CFO).

They said almost all members of PSM board, except chairman Adul Jabbar Memon, are not qualified enough to be the members of the board. “Neither HUBCO nor ENGRO have any previous experience in the steel industry, while approximately Rs15 billion worth heavy burden on PSM was recorded during last four months,” they added.

Sources said PSM stakeholders had written a letter to PM Imran Khan, seeking action against all those elements who are involved in sabotaging the revival of PSM. The stakeholders had also devised a practicable revival plan of PSM, sources added.

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Ahmad Ahmadani
The author is a an investigative journalist at Profit. He can be reached at [email protected]
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