{
  "id": 18408996,
  "title": "NA body has directed ministry, management to help protect PSM’s assets from theft",
  "url": "https://urgent.news/2026/11/06/na-body-has-directed-ministry-management-to-help-protect-psms-assets",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-06T00:47:13.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447660/na-body-has-directed-ministry-management-to-help-protect-psms-assets-from-theft"
  },
  "original_language": "en",
  "account": "Islamabad: The National Assembly Standing Committee on Industries and Production convened on Thursday, focusing on the preservation of Pakistan Steel Mills' (PSM) valuable assets from theft. The committee, chaired by Syed Hafeezuddin, addressed pressing concerns surrounding the alarming increase in thefts of high-value state assets, including copper wiring, scrap, and industrial equipment, leading to significant losses for the state. Expressing deep alarm, the committee urged the Ministry of Industries and Production to promptly draft and present a comprehensive Security Plan to mitigate these ongoing losses. The panel emphasized the importance of stringent oversight and transparent investigations into internal security lapses to identify and prosecute all those involved in illicit activities. Key recommendations, including the hiring of a private security firm by the PSM management following the withdrawal of defense security personnel, were discussed in detail. The committee noted that due to the procurement process not being approved, a tender for 120 security guards was advertised on September 29, 2026, and is currently in its final evaluation stage. The committee also addressed broader governance issues, noting that criminal cases are being pursued against those involved in theft, while requesting the presentation of comprehensive implementation reports on all eleven sub-committee directives at the next meeting. Advisor to the Prime Minister on Industries and Production, Haroon Akhtar Khan, briefed the committee about the ministry's proposal for establishing another steel mill to bolster domestic production capacity and reduce imports. Khan also provided insights into the upcoming National Auto Policy, with the finalized draft currently under review by the Prime Minister for executive approval. The meeting featured participation from MNAs Kiran Imran Dar, Romina Khurshid Alam, Dr Mahesh Kumar Malani, Dr Mahreen Razzaq Bhutto, the Secretary of Industries and Production, and senior officials from the ministry.",
  "summary": "ISLAMABAD: The National Assembly Standing Committee on Industries and Production has directed the Ministry and the management of Pakistan Steel Mills (PSM) to devise a comprehensive plan to protect the valuable assets of the Steel Mill from theft. The standing committee, which met here on Thursday under the chairmanship of Syed Hafeezuddin, deliberated on important matters impacting state assets…",
  "key_points": [
    "National Assembly Standing Committee on Industries and Production convened to protect PSM assets.",
    "Committee urged Ministry of Industries and Production to draft Security Plan.",
    "PSM management to hire private security firm post-defense personnel withdrawal."
  ],
  "editors_take": "The committee's push for a formal security plan and private guards signals a shift toward professionalizing the protection of state assets following significant losses from internal security lapses.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}