PSM releases two months salaries after receiving bailout package

KARACHI: Pakistan Steel Mills (PSM) has released two months salaries of employees after receiving Rs1.5 billion, first installment of fresh bailout package worth Rs2.9 billion, Geo News reported.

According to the spokesman the PSM received Rs1.5 billion from the government on Friday. He said with Rs800 million, salaries of June and July have been released.

It may be noted here that the PSM employees have yet to receive August salary, however, the month of September is also about to end.