Government Decides to Privatize Pakistan Steel Mills.

The government has decided to privatize Pakistan Steel Mills (PSM). The decision has made in a meeting of the Economic Coordination Committee (ECC) held earlier this month.

With Prime Minister’s Adviser on Finance Dr. Abdul Hafeez Sheikh in the chair, the meeting discussed the summary presented by the Ministry of Industries and Production on the Appointment of Transaction Advisory Consortium for the revival of Pakistan Steel Mills.

The ECC agreed to the ministry’s proposal of placing the PSM on the privatization list. The committee also directed the ministry to prepare a formal proposal in this regard.

Earlier, Minister of State for Parliamentary Affairs Ali Muhammad Khan had said in the National Assembly that the government is not going to privatize PSM. The government had originally decided not to include it in the privatization list.