Post-retirement benefits of PSM employees: SHC tells govt to submit Rs11.68bn by 30th

KARACHI: Sindh High Court (SHC) has ordered federal government to submit Rs11.680 billion on account of post-retirement benefits of retired employees of Pakistan Steel Mills (PSM) by September 30, 2020.

According to written order of a division bench of SHC after hearing of the multiple petitions regarding post-retirement benefits of retired employees of PSM, Court ordered that amount should be deposited with the Nazir of SHC.

The order said that Chief Executive Officer (CEO) of PSM submitted a report on September 03, 2020 after appearing in person, which stated that remaining 90% amount of the petitioners' post-retirement benefits, has been deposited with the Nazir of this Court in compliance of order issued on May 18, 2020. Counsel for the petitioners confirmed about amount deposited and Nazir of the court also confirmed that an amount of Rs.11.441 billion has been received by him in compliance of order of the court.

Regarding the post-retirement benefits of all such retired employees of PSM, who have not approached the court, Federal Government and PSM were directed to allocate the requisite funds to settle the same and to deposit the same with the Nazir of this court latest by August 31, 2020 in earlier order. PSM was directed to submit a complete list of claims of all such retired employees within fifteen days.

The counsel for PSM stated that the said list was submitted with the Nazir within the stipulated period.

The CEO of PSM confirmed that the total amount payable to such retired employees comes to Rs.11.680 billion. Hafiz Abdul Hadi, Joint Secretary, appeared on behalf of Finance Department of the Federal Government stated that the said amount shall be arranged by the Ministry of Finance and the Ministry of Industries after following the usual procedure. Afzal Latif, Secretary, Industries & Production Division, was also present.

The court directed Federal Government to deposit admitted amount of Rs.11.680 billion with the Nazir of this Court latest by September 30, 2020.

As the entire amount in respect of post-retirement benefits of the petitioners and other litigants has already been deposited with the Nazir, Court ordered him to complete the process of disbursement to the beneficiaries in terms of order issued on May 18, 2020 by September 30, 2020.

Copyright Business Recorder, 2020