NA body has directed ministry, management to help protect PSM’s assets from theft

ISLAMABAD: The National Assembly Standing Committee on Industries and Production has directed the Ministry and the management of Pakistan Steel Mills (PSM) to devise a comprehensive plan to protect the valuable assets of the Steel Mill from theft.

The standing committee, which met here on Thursday under the chairmanship of Syed Hafeezuddin, deliberated on important matters impacting state assets and national industrial policy.

The Committee expressed deep concern over an alarming surge in the theft of high-value state assets of PSM, including copper wiring, scrap, and essential industrial equipment, observing that these security breaches have caused severe losses to state property.

The parliamentary panel directed the Ministry of Industries and Production to immediately formulate and present a comprehensive Security Plan to curb ongoing losses. The Committee emphasized the necessity of strict oversight alongside transparent investigations into internal security lapses to identify and prosecute all individuals involved in illegal activities.

The committee had generated various specific recommendations to address theft, operational vulnerabilities, and administrative concerns at the PSM plant.

The committee noted that following the withdrawal of defence security force personnel, PSM management initiated a formal tendering process to hire a private security firm for 120 security guards to safeguard PSM land, plant, machinery, and stores after a proposal for an integral security force was not approved by the Ministry of Industries and Production. The tender, advertised on September 29, 2026, and opened on October 19, 2026, is currently in its final evaluation stage. Addressing broader governance issues, the committee noted that criminal cases are being pursued against individuals involved in theft, while directing that comprehensive implementation reports on all eleven sub-committee directives be presented at the next meeting.

The Committee was briefed on broader strategic plans for the country’s steel sector. The Committee was informed by Advisor to the Prime Minister on Industries and Production, Haroon Akhtar Khan, that alongside ongoing efforts to revive Pakistan Steel Mills, the ministry has a proposal for establishing another steel mill in Pakistan to enhance domestic production capacity and curb imports of five billion rupees steel.

Haroon Akhtar Khan also provided a detailed update on the upcoming National Auto Policy, confirming that work on the framework is in the final stages. A total of 49 initial observations raised by the Prime Minister’s Office regarding the draft policy have been fully addressed and mitigated. The finalized draft is being presented to the Prime Minister today for executive review, and pending approval, the Prime Minister is expected to hold a press conference tomorrow to formally announce the new policy framework to the public.

The meeting was attended by MNAs Kiran Imran Dar, Romina Khurshid Alam, Dr Mahesh Kumar Malani, Dr Mahreen Razzaq Bhutto, and the Secretary, Industries and Production, besides other senior officials of the ministry and its attached departments.

Copyright Business Recorder, 2026