PSM staff get two months salary before Eid ISLAMABAD: The Economic Coordination Committee of the federal cabinet approved on Wednesday two months’ salary amounting to Rs760 million for employees of the Pakistan Steel Mills.
An ECC special meeting, headed by Finance Minister Ishaq Dar, also decided that the salary of the employees would be paid before Eidul Azha.
PTI chairman Imran Khan’s speech to workers of Pakistan Steel Mills on Sept 5 might be one of the reasons which forced the government to take the decision.
An official statement issued after the meeting said that for retired PSM employees gratuity fund and provident fund amounting to Rs322.021m was also approved by the ECC. The gratuity payment to retired Steel Mills employees has been due since April 2013, and provident fund since April 2015. The meeting was informed that all payments on both these accounts had been cleared.
The ECC also approved a proposal by the Ministry of Petroleum and Natural Resources allowing Pakistan State Oil to proceed for finalising the addendum to the existing product sale and purchase contract with Kuwait Petroleum Corporation for supply of furnace oil and jet fuel with the direction to make efforts to improve the payment terms.
For the upcoming Saarc conference and other future events, the ECC also exempted import of armoured and security vehicles for international dignitaries from all taxes and duties.