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Industry dynamics

Pakistan steel mills cut jobs to reduce cost
  • 2017-03-23
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On 14th March Pakistan BBS reported the Pakistani government recently dissolved a batch of steel mill workers in order to reduce the pressure of the Treasury and the factory salary expenses. It occurred after Pakistan's economy coordination commission on 2nd March. The personal manager said the factory decided to reduce workers' wages to 3.8 million rupees after consultation with shareholders,.
Commentary announced that the Pakistani government provides emergency funding of 56.45 billion rupees to Pakistan steel, but steel mills still suffered huge losses. The loss is total up to 177.78 billion rupees.

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