Karachi, Pakistan (HRNW) — In yet another alarming revelation about the deteriorating state of Pakistan Steel Mills (PSM), authorities informed a National Assembly subcommittee on Industries and Production that 11kV power cables from the plant have been stolen, highlighting severe security lapses at the defunct industrial complex.
Officials told the committee that, despite the mill’s closure, an electricity bill of Rs270 million was received, of which Rs25 million was paid just last month. The disclosure underscores continuing financial liabilities even though the plant has been non-operational for years.
Due to the rising threat of theft and asset damage, officials said that the government has decided to auction off certain PSM assets to prevent further losses. The move follows repeated incidents of infrastructure theft, including equipment and cables, from the sprawling industrial site near Karachi.
Once a flagship symbol of Pakistan’s industrial strength, the Pakistan Steel Mills continues to suffer from neglect, encroachment, and financial mismanagement — with urgent calls for restructuring and safeguarding its remaining assets.
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