Fate of PSM

https://ift.tt/eA8V8J

It is the conflicts of interest of politicians and powerful paid bureaucracy, and wrong choice of individuals placed at helm of SOE and non-merit surplus recruitments by successive civil and uniformed regimes that have driven them to bankruptcy. Despite potential for commercial viability, and no dearth of qualified talent, it is lack of political will, integrity etc, responsible for losses by PSM and other SOE. Conflicts of Interest of powerful stakeholders, within political and paid elite has prevailed over merit and commercial interests of SOEs; obliging cronies and retired or serving officers. The irony is that former Chairman PSM Moeen Aftab and ex-director Sameen and a contractor alleged for gross irregularities and surplus recruitment during 2008-2010 were acquitted because of lack of credible evidence by Sind High Court on 29 February 2020, although investigations started in 2010 and NAB had filed 9 corruption references. Nawaz government, perhaps slave to their own conflicts of interest, made no effort to restore productivity, nor did Chairman Gen Javed at helm from 2012-2014 and neither did Gen Zaheer who took over in 2014 and holds that post till today. State must enforce financial and administrative discipline within its ruling elite, ensuring that every individual on its payroll confines 24/7 to the job they have been paid to perform, and not indulge simultaneously in commercial vested interests, collectively or individually. PSM foundation was laid on 30 December 1973 by ZAB in collaboration with Soviet Union, which offered technical assistance and trained qualified engineers and technicians, along-with supervisory expertise and technology transfer to build infrastructure with design capacity of 2.2 MTPY to be achieved progressively. First Blast Furnace was commissioned on 14 August 1981 and such plants require professionally qualified specialists for continuous technological upgradation, increased production etc instead of administrators.

Malik Tariq Ali

Lahore

from Pakistan Today https://ift.tt/3gVT6se