Federal Minister for Privatisation Mir Abid Hussain Bhayo on Thursday held a meeting with pre-qualified bidders of Pakistan Steel Mills.
The said meeting was held to revitalize the steel corporation and to find possible ways where Pakistan’s largest steel mills can be made more productive in years to come.
Chairman Privatisation Commission Saleem Ahmad, Federal Secretary, senior officials and Financial Advisors were present in the meeting which discussed possible ways .
The pre-qualified bidders who attended the meeting were: Bao Steel Group Xinjiang Bayi Iron & Steel Co. Ltd, Tangshan Donghua Iron and Steel Enterprise Group Co. Ltd, and Maanshan Iron and Steel Co. Ltd.
Speaking on the occasion the minister said that the government was keen to share with time-tested Chinese friends the advantages accruing from the strategic position of Pakistan.
The pre-qualified parties are among the leading global manufacturers and Pakistan is offering these pre-qualified bidder access to a huge market of steel with a potential for exports across the globe.
In the meeting federal minister, chairman, secretary and financial advisers responded to the queries/enquiries from the pre-qualified bidders.
The pre-qualified bidders inquired about the potential time line for the approval of scheme of arrangement (included in the transaction structure of PSMC), valuation procedure, likely dilution of GoP shares, utility connections and use of jetty and land lease agreements. —APP
