The incumbent management team of Pakistan Steel Mills (PSM) representing Secretary Ministry of Industries and Production/CEO PSM has reportedly set aside the instructions of Privatisation Commission (PC) with regard to removal of contract employees and daily wagers. Well-informed sources told Business Recorder that the top management has moved a summary for the extension in contract of Director Hadeed Welfare Trust, Hamid Pervez, without advertising the post.
Privatisation Commission and PSM's HR committee recently directed PSM management to terminate the service contract of those employees who were re-hired after retirement. However, the officials who are occupying senior positions in the PSM did not relieve those who were rehired at exorbitant packages after their retirement from Pakistan Steel.
One post of Director was filled illegally without any advertisement by hiring Hamid Pervez just a day before his retirement from the mills, and was later hired for the post of Director Hadeed Welfare Trust till June 23, 2016, at an exorbitant package. PSM management is again trying to rehire him by extending his contract which is going to expire within the next two weeks. As per his contract letter, Hamid Pervez cost almost Rs 2 million to the public exchequer in terms of his salary and other perks, for which he was not eligible.
The sources said PSM management has agreed to reduce the daily wage staff, from 918 as of November 2015, to 430 by June 2016 , an approximate 50% reduction, while the number of contract employees as of 30 in November 2015, would be reduced to 161 by June 2016, an approximate 30% reduction. Accordingly, a reduction in the salary projections from Rs 435 million to Rs 390 million per month by June 2016 is expected.
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