PSM’s revival plan discussed

Pakistan Steel Mills Board of Directors (BoD) Chairman Aamir Mumtaz Friday said Pakistan Steel Mills is in the process of revival and recovery and needs to reinvent itself as a new organization. Presiding over a meeting with PSM officials regarding revival of PSM, Mumtaz said the organizational and governance model of PSM must be reconstructed to create something that is viable and full of vitality.

He further said that culture of ownership, competitiveness and continuous improvement must be developed so that PSM could compete with its peers across the world and manufacture products at a competitive price, quality and full market fit.

Chairman BoD emphasized to create this new structure, as a culture revamp & new mindset which has all the best aspects of a private sector and a public sector company. The workforce will need to be molded into practices that exemplify highest standards of work ethics, he added. He said that all the departments must demonstrate excellent team work, agility and a mindset of putting the mill first. The organization must set up a center of excellence in all required faculties to create self-sufficiency, internal and independent research, development, innovation and a continuous improvement culture, he added.

He further said that a 21st Century workforce mentality is required on entire level. “Agile, technically excellent workforce that that can compete with any other players in the world in the same bracket and this workforce will also reap the benefits of working for a viable and growing enterprise that invests in training, career development and is a sought-after place of work that pays competitive salaries,” he added.