Pakistan Steel Mills (PSM) has received first installment of the new bailout package by the Government of Pakistan, source reported.
Spokesman for Pakistan Steel said the PSM has received an amount of Rs.
1.5 billion from the Government.
The spokesman further said Pakistan Steel will spend Rs.
1 billion on the payment of two months salaries of employees, adding the salary would be released on Monday or Tuesday.
The Government had approved Rs.
2.9 billion bailout package for the Pakistan Steel earlier this month.
