Essay on Pakistan Steel Mill -a Blow to Economy
Sixty three years ago the world's map underwent a great change and the Indian subcontinent was divided into two independent states: India and Pakistan. It did not take much time to change the maps nor did it affect the neighboring countries in any great way, but this division was the result of an intense and dedicated struggle by millions of people of the subcontinent.
At the time of partition, the areas comprising Pakistan received only five per cent of the subcontinent's industry. . The foundation stone of Pakistan Steel was laid by the then Prime Minister Zulfiqar Ali Bhutto on 30th September 1973. Pakistan Steel is the pioneer in the engineering industries of the …show more content…
Economic Problems Of Mill.
Pakistan Steel Mills is facing a severe financial issue nowadays. It is operating in a tough competition atmosphere. It is facing loss of billions of rupees. It has to pay off huge bank loans and government taxes. It is, in fact, on the verge of collapse and bankruptcy and has asked government for 10-12 billion rupees bailout package to come out of crisis while Cabinet Committee on Reforms has approved a bailout package worth Rs6 billion to tackle the situation.Following are