Pakistan Steel Mills to Auction Some Assets Amid Rising Theft Threats
KARACHI: In response to increasing incidents of theft, Pakistan Steel Mills has decided to auction some of its assets, officials told the Subcommittee on Industry and Production of the National Assembly.
According to details shared in the meeting, 11 kV electricity wires from Pakistan Steel Mills have already been stolen, highlighting growing security concerns at the facility.
The officials also revealed that despite the closure of Pakistan Steel Mills, the company received an electricity bill of Rs 27.5 crore last month, out of which Rs 2.5 crore has already been paid.
The subcommittee was informed that due to rising theft risks, certain assets of the steel mill are being sold through auction to secure remaining resources and prevent further losses.
