A 'Golden Handshake' plan for steel mill employees has been approved:

A 'Golden Handshake' plan for steel mill employees has been approved:

ECC approves Rs 19.65 billion for Golden Handshake.

The Economic Co-ordination Committee has approved a 'Golden Handshake' plan for steel mill employees. In this regard, it has been informed that the ECC has approved funds of Rs. 19.65 billion for the Golden Handshake, under which 49% of the employees of the Steel Mills will get the Golden Handshake. According to details, a meeting of ECC was held under the chairmanship of Finance Advisor Hafeez Sheikh in which the plan of 'Golden Handshake' for Steel Mills employees was approved. 

It may be recalled that recently the government had also decided to lease the properties of Pakistan Steel Mills.

Federal Minister for Privatization Muhammad Mian Soomro has said in this regard that it has been decided to lease the land of Pakistan Steel Mills and in this regard 32 properties have been identified in the first phase, 5 out of the 32 identified properties are new. These five properties have been handed over to the Pakistan Housing Authority. Cheap houses are being built for low-income people. The sale of unused properties will start from next week while the total losses of the steel mills are Rs 350 billion.

The Federal Minister for Privatization said that the Privatization Commission is working on privatization of 17 to 19 companies, which will start progress after final approval from the Federal Cabinet. K Electric's issues will be resolved in the next one to two months. K Electric is facing various issues including ownership and liabilities.