Minister Privatization chairs weekly progress review meeting on revival of PSMC

April 30, 2021: Federal Minister for Privatisation Mohammedmian Soomro and Minister for Industries and Production Khusro Bakhtiar co-chaired an Inter-Ministerial weekly Progress review meeting on revival of Pakistan Steel Mills Corporation (PSMC) today in Islamabad.

Federal Secretary Privatisation Hasan Nasir Jamy, Secretary Industries Afzal Latif, Additional Secretary Industries, and other seniors of the Ministries attended the meeting. Representatives of Pakistan Steel Mills and SSGC participated via video link.

In the meeting, the Ministry of Industries & Production and PSMC briefed about the update on the present status of the corporate actions regarding certificate of incorporation of a new subsidiary, lease agreement of Jetty & right of way between Port Qasim Authority and PSMC, arrangement of utility connections for the new subsidiary, issuance of NOCs from National Bank of Pakistan, SSGC, etc and approval by NEPRA for issuance of power generation license for the new subsidiary.

Federal Ministers were told that the above said actions are required to be completed before publishing EOIs for potential investors.

Mohammed Mian Soomro said that soon after fulfillment of necessary formalities/actions Expression of Interest (EoIs) for investors will be published for the revival of Pakistan Steel Mills.

Press Release