The report published in Daily Business Recorder of 27th November, 2013 on PSM BoD meeting held in Islamabad on 26 November 2013 has, inter-alia, mentioned that dry fruits worth Rs 200,000 were served to the Board members. This aspect of the report is not only far detached from reality but is clearly aimed at creating undue alarm and sensation in respect of an organisation which is presently beset with difficulties and problems not all of its own making.
Serving snacks, refreshment, meals, etc during Board meetings is a matter of routine in corporate culture. This is also true of Pakistan Steel. However, due to the present financial crunch, even these usual expenses are being kept at minimum possible levels. It is pertinent to mention here that the current Board has voluntarily foregone its attendance fee. Business Recorder would have done well to highlight this gesture in the report to acknowledge the Board’s concern and to create a positive impact on the reader rather than to confound with such irresponsible reporting, that too without checking on the facts.-PR