PSM spokesman has stated that the management of Pakistan Steel is not only claiming that the production units have been shut down due to low gas pressure supplied by SSGC, but it is also posing grave damage to the Complex Plant Machinery. It is further stated that SSGC has reduced the gas pressure to 0.8 to 1.0 kg cm² against the agreement of 5 kg cm². This situation exits from June 10 due to which only few production units are put on pre-heat and other have been shut down which is on crisis like situation.
Moreover, it is imperative to mention that Pakistan Steel has Principal Amount of only Rs 18 billion payable to SSGC and Rs 17 billion is Late Payment Surcharge. It is pertinent to mention that in ECC meeting of April 2012 and in April 2014, it was decided in principal that the Principal Amount will be frozen for two years and re-schedule for 10 years and Late Payment Surcharge will be waived off. However, concerned departments and Ministries along with Finance Ministry and Privatisation Commission can sit and resolve the issue amicably. Pakistan Steel Management has written several letters/memos to aware/inform the concerned authorities about the situation and the affects of low gas pressure by SSGC.
It is worth mentioning that an agreement was made to normalise the gas pressure immediately by July 6, but unfortunately the situation is same as on June 10. It was also decided that Pakistan Steel will pay the current gas bill on regular basis to SSGC.-PR
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