A Senate sub-committee has launched an inquiry into an enormous Rs 10 billion theft at the crisis-ridden Pakistan Steel Mills (PSM), expressing profound dismay that only a single official has been suspended for what is suspected to be a widespread, organized criminal operation.

The Sub-Committee of the Senate Standing Committee on Industries and Production, led by Senator Khalida Ateeb, convened on Thursday to address the extensive misappropriation of valuable materials, including wires, and broader governance failures at the state-owned enterprise.

Senator Ateeb voiced serious concern over the lack of accountability, calling the suspension of just one individual a significant lapse. “This massive pilferage is not the act of a single individual; it’s a well-coordinated chain of people involved,” she emphasized, demanding that every person responsible be identified and subjected to strict action.

During the session, the CEO of Pakistan Steel Mills informed the panel that both criminal and departmental investigations were underway, ensuring due process for all implicated parties. He also cited persistent electricity and water shortages as major operational hindrances, but noted that PSM continues to pay employee salaries from its own funds despite these difficulties.

The committee’s attention was also drawn to land encroachment on the vast industrial tracts owned by the mills. An official report related to the land grab was found to be critically deficient, as it failed to specify the exact area involved, an omission the panel described as an obstacle to legal and administrative action.

To ensure a thorough investigation, Senator Ateeb directed the formulation of clear Terms of Reference (TORs) to guide a fact-based inquiry into the reasons for PSM’s decline. She also criticized the frequent transfers of secretaries, observing that such administrative instability hampers effective oversight and reform efforts.

Looking ahead, the committee decided to summon representatives from labor unions and registered workers’ associations to its next meeting for a comprehensive understanding of the crisis. Officials from the Water and Sewerage Company will also be called to provide a briefing on the chronic water supply issues affecting the locality. The meeting also included a discussion on the implications of the State-Owned Enterprises (SOE) Act on PSM’s management.

The session was attended by Senator Syed Masroor Ahsan and Senator Husna Bano.