Gilgit, December 24: The much-touted company, Mohsin Industries, has started closing its offices and firing employees, four months into its ‘operations’ in the Gilgit – Baltistan region. The biggest supporter of Mohsin Industries, the GB Chief Minister Syed Mehdi Shah, seems to be tight-lipped.
The minerals exploration and mining company came with the lofty claims of changing the future of GB, but suddenly the promises are falling apart, like a house of cards.
Let’s remind our readers that the Chief Minister had reportedly by-passed the GBLA to award an exploration license to this company, registered as ” Bao-Billion Mining Group Limited”, in Hong-Kong.
The decision to award the exploration license led to a minor political crisis in GB, with the Finance Minister openly opposing it and the GB Council stepping in to resolve the issue.
According to some sources, the company is going through down-sizing and only a limited number of staffers will be kept.
The Mohsin Industries could not be approached for comments as the cell number of the media representative was powered off.