ISLAMABAD: The revival of Pakistan Steel Mill (PSM) and the relevant actions to be taken by stakeholders, including the industries ministry, were discussed at a meeting of the Privatization Committee on Friday, which was chaired by federal minister Mohammed Mian Soomro. The federal secretary of privatisation and the CEO of PSM were also present at the 5th Privatisation Commission’s board meeting. The press statement released following the meeting today noted the main agenda which was discussed was related to the revival of PSM. “There were few corporate actions which were to be performed by the stakeholders including the Ministry of Industries and Pakistan Steel Mills.” The meeting also discussed the filing of a scheme of arrangement with the Security and Exchange Commission of Pakistan (SECP), which is a court-approved agreement between a company and its shareholders. Federal Minister Soomro stated that the committee is working to resolve outstanding issues in collaboration with key stakeholders, and that Expressions of Interest (EOI) will be invited soon. Updated financial reports of the Pakistan Steel Mills Corporation (PSMC) and its subsidiary; board approval for transferring utility connections to the newly formed subsidiary without encumbrances; approval for the retention of the new subsidiary by either GoP or PSMC; and the desired size of divestment, among other things, were among the legal matters covered by such a filing.