The federal government has issued a loan of Rs 11.44 billion to Pakistan Steel Mills on Friday.
The Ministry of Finance has issued a notification for the issuance of loan to Pakistan Steel Mills.
According to the notification, the loan is being disbursed as per the decision of the Economic Co-ordination Committee (ECC).
The money released by the federal government has been transferred to the account of Pakistan Steel Mills which will be repaid in 20 years.
A few days ago, Federal Minister Hamad Azhar had said that the government was trying to rehabilitate the steel mills. He said that there is also an option to run steel mills in collaboration with joint stakeholders.
In the Senate session, Federal Minister for Pakistan Tehreek-e-Insaf (PTI) Hamad Azhar said that the decision would be taken keeping in view the privatization policy.
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