Meeting reviews progress in transaction of PSM

Staff Reporter

Federal Minister for Privatisation Mohammed Mian Soomro and Federal Minister for Finance and Industries Hammad Azhar on Wednesday co-chaired the weekly progress review meeting about the revival of Pakistan Steel Mills (PSM).

Federal Secretary Privatisation, Secretary, Additional Secretary Industries, and other senior officials of the Ministries and Financial Advisor attended the meeting.

Representatives of Pakistan Steel Mills and Evaluator participated via video link.

The Ministers were briefed about the current status and progress and probable timeline for the completion of said transaction.

The issues related to the formation of a new subsidiary, use of jetty and conveyor and others were deliberated upon in detail.

The Federal Ministers said that we must strictly follow the targeted timelines on war footing for completion of revival plan of PSM .

Federal Minister for Privation Mohammed Mian Soomro sought the progress in the privatization of various PSEs.

The matter relating to the two power plants of National Power Parks Management Company Ltd.

(NPPMCL), First Women Bank, SME Bank, Jinnah Convention Center, Services International Hotel, Sindh Engineering Company and various other entities were discussed in detail.

Mohammedmian Soomro directed that the work on the PSEs included in the active privatization list should be completed on priority and all legal and administrative issues related to the privatization of these PSEs be completed.