NAB to probe reasons behind downfall of Pakistan Steel Mills

[embed_video1 url=http://ift.tt/2zKFsSa style=center] ISLAMABAD: The National Accountability Bureau has decided to run an inquiry into the reasons which led to the dismal state of the Pakistan Steel Mills (PSM). Chairman National Assembly's Standing Committee on Industries and Production Asad Umar wrote a letter to Chairman NAB Justice (retd) Javed Iqbal on December 18, demanding to know the causes behind the manufacturing industry?s abysmal performance. In his letters, Umar mentioned that since a month the national exchequer has faced damages worth Rs1.5 billion. Neither are the employees getting salaries nor the retired staffers receiving pension money, he stated. Following which, NAB issued a notification today, according to which it wanted to determine the reasons behind the situation, while also deciding to place the name of those responsible (past and present) on the Exit Control List (ECL). The NAB in its official notification stated that the reasons behind the loss of nation?s money will be known and all those responsible will be identified. The notification further stated that the standing committee has also requested to take relevant action in the regard. It is pertinent to mention that in December, the government had announced to issue two-month salary to the employees of Steel Mills.