KARACHI: MCC Port Qasim has frozen two bank accounts of Pakistan Steel Mills (PSM) for recovery of outstanding government dues as the steel mill as failed to clear its obligations towards government even after the lapse of extended deadline.

A sum of Rs 532.534 million is recoverable from Pakistan Steel Mills. Federal Board of Revenue (FBR) had granted a time extension to the company for payment, but the steel mill failed to make the payment.

Resultantly, two bank accounts ne at Allied Bank and other at Bank Al-Habib have been seized.

MCC Port Qasim has initiated a recovery campaign and Collector Surayya Ahmed Butt has formed a Recovery Cell led by Assistant Collector Rehan Akram. An SPS has been appointed as Attachment Officer to attach moveable property of M/s Pakistan Steel Mills.

The frozen bank accounts will be attached and the recoverable amount will be remitted in favor of government exchequer, an official said.

Sources said Collector Surayya Ahmed Butt had taken this initiative to secure government revenue and the Recovery Cell led by Rehan Akram had streamlined details of several defaulter adding that there will be a many more attachment incidences going forward.