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Monday, November 18, 2024

Home Business Roadshows with int’l, national investors for revival of PSM continues

Roadshows with int’l, national investors for revival of PSM continues

by News desk
September 18, 2021
in Business

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Staff Reporter
Islamabad

The Ministry of Privatisation started a series of roadshows with international and national investors for the revival of Pakistan Steel Mills (PSM).

The meetings with renowned investors consortium from Korea and China were held on Friday. Federal Minister for Privatisation Mohammedmian Soomro, Federal Secretary Privatisation, financial and legal advisors and senior officers of the Ministry responded to the queries from the potential investors.

Pakistan Steel Mills is non- functional since 2015, and the government has come up with a unique and most feasible transaction structure for the revival of Pakistan Steel Mills, the 51% to 74% shares of newly carved out subsidiary of PSM namely Steel Corp would be divested through a competitive and transparent bidding process.

After the publication of EOIs renowned national and international investors consortiums responded; consequently, the Ministry has arranged for the roadshows started from September 13 and will continue till September 23.