Six parties are interested in Pakistan Steel Mills privatization, Minister

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Six parties, including Russian and Chinese have shown interest in buying Pakistan Steel Mills (PSM), the privatization minister says.

Pakistan Steel Mills has been shut since 2015, while Rs 400 million is being spent on month to month compensations,” said Mian Muhammad Soomro amid a gathering of the National Assembly Standing Committee on Privatization on Thursday.

“An expert is being delegated for Pakistan Steel Mills, who will assess whether the steel mills can be reestablished or not,” said Soomro, including that comparable was the situation of the Pakistan International Airlines as it had no planes.

“In the event that PIA gets planes, its misfortunes can be diminished,” he included.

NA Standing Committee on Privatization Chairman Mustafa Mehmood said he was supportive of privatization.

“On the off chance that privatization must be done, PIA must be privatized first,” said Mehmood. “Making PIA productive again is inconceivable.”

The committee individuals likewise inspected the privatization procedure of SME Bank.

The government minister stated, “The Privatization Commission does not choose about the privatization of an establishment. Just those foundations, whose names are sent to the commission, are privatized.”

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