ECC meeting held by Asad Umar to look for the future of Pakistan steel

A special conference of Economic Coordination Committee (ECC) of the Cabinet has been in progress here with Finance Minister Asad Umar in seat, ARY News gave an account on Monday. The ECC meeting will examine the general condition of the national economy.

As indicated by the sources, the gathering will prone to take a choice as to the eventual fate of Pakistan Steel. A report with respect to recovery of Pakistan Steel Mills will be displayed in the progressing ECC meeting, sources said. It is appropriate to make reference to here that Pakistan Steel, the nation's biggest industrial complex is dysfunctional since June 2015. Under the restoration plan, the limit of the PSM would increment to 3 million tons for every annum from existing limit of 1 million tons for each annum. The Mill, which stayed shut for right around four years, is requiring a substantial venture to make it useful. Prior, the ECC had given two months to the Ministry of Industries and Production, in November a year ago to present a restoration plan for the plants. A gathering of specialists, comprised by the government, had looked for three additional months before it could give an opinion over the issue. As per sources the group of specialists’ has now finished its work and has presented its report to the ECC for thought in this gathering. The ECC meeting will likewise survey the issues identified with the vitality division. As indicated by sources, the money related issues of the energy sector will be checked on preceding the period of Ramadan, which will begin in first week of May.

• [Editor:janita]