No Revival: Govt Decides to Privatize Pakistan Steel Mills
The companies interested in acquiring shares could place their bids by September 30.
Aiming to restructure the national flag carrier, the government has invited expression of interest (EOI) for Pakistan Steel Mills (PSM) as it decides to privatize it.
Sources said that the government intends to sell shares of PSM.
Earlier this week, Privatization Minister Mohammad Mian Soomro refuted rumors and said PIA will not be privatized.
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The minister added that the government will take steps to revive the airline. However, the PTI-led government has decided in principle to privatized the mill.
The companies interested in acquiring shares could place their bids by September 30.
Sources added that the government will stake 51% to 74% shares of PSM with management control.
PSM has a production capacity of 1 million tons which can expand to 3 million tons.
