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PSM is not KWSB’s defaulter

Pakistan Steel Mills (PSM) is not a defaulter of Karachi Water and Sewerage Board (KWSB) and despite having financial difficulties PSM is regularly paying huge amount on account of bills, said PSM spokesman. According to an order of Sind High Court, KWSB is its self defaulter of Pakistan Steel and have to pay an amount to Rs 350 million to state run steel producer, he added.

He said that cumulatively an amount of Rs 50 million has been paid to KWSB during last two months to adjust bills. PSM has paid Rs 20 million in June and Rs 30 million in July 2012. In addition, after deduction of net amounts of bills and dues KWSB will remain defaulter of PSM by some Rs 150 million.-PR

Copyright Business Recorder, 2012

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