PC Board takes a step ahead in the revival PSM

By MG News | July 19, 2021 at 06:37 PM GMT+05:00

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July 19, 2021: The 6th Privatisation Commission, Board meeting of the current year held Virtually today in Islamabad, under the chairmanship of the Federal Minister and Chairman Privatisation Mohammed Mian Soomro.

Federal Secretary Privatisation; CEO Pakistan Steel Mills, PC Board members, and senior officers of the Ministry attended the subject meeting.

PC Board discussed the allocation of 1229 acres of land to be transferred to the new subsidiary of the PSM namely Steel Corp (Pvt) Ltd and bifurcation of Key Operating Assets and corresponding Fair Market Valuation (FMV) for the proposed transfer of Core Assets to a new subsidiary, as narrated in the Audited Financial Statement of PSM for the period ending Dec 31, 2020, including the list of key operating assets.

The PC Board considered the proposals and after deliberations noted the PSM Board's decision taken in its meeting held on 13th July 2021 on the above issues and directed the Privatisation Commission to proceed further in the matter.

Press Release

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