PAKISTAN STEEL MILLS BOSS ASKS FOR ADVANCE ON BAILOUT PAYMENTS
November 1st, 2012
BY RAHIMULLAH YUSUFZAI, IN PESHAWAR
The chief executive officer of Pakistan Steel Mills (PSM) has told Steel First his company is seeking an advance on agreed Pakistan government bailout funds agreed this July. Retired Major General Muhammad Javed stressed the company was not seeking fresh subsidies, but needed a second Pakistan Rupees PKR5.40 billion (USD56.2 million), tranche of the PKR14.6 billion (USD151 million) approved by the cabinet's economic coordination committee.
This money was to be paid in four installments and the second payment was now being ...
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