Pakistan Steel Mills (PSM) would soon be placed on the privatization list. Pakistan Tehreek-e-Insaf (PTI) government decided this during a meeting of the Economic Coordination Committee held on Monday. The meeting was chaired by Prime Minister’s Adviser on Finance Dr Abdul Hafeez Sheikh.
The ECC also deliberated upon the summary submitted by the Ministry of Industries and Production on April 16 regarding the appointment of Transaction Advisory Consortium for the revival of PSM.
During the meeting, the committee agreed to the proposal given by the Ministry of Industries and Production to privatise the steel mill.
The ministry was also directed to make a formal proposal in this regard.
Earlier this month, Minister of State for Parliamentary Affairs Ali Muhammad Khan had claimed before the National Assembly that the government was not considering plans to denationalise PSM.
Under former finance minister Asad Umar, the government had decided to remove the corporation from the list of companies to be privatised.