Companies from China, Korea and Russia are keen to run Pakistani steel mills

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Islamabad: Federal Minister for Privatization Muhammad Mian Soomro and Federal Minister for Industries and Production Hammad Azhar chaired an important meeting to review and discuss the progress made in reviving Pakistani steel mills.

The meeting was briefed on the progress of work under the approved transaction structure of Pakistani steel mills. The forum learned that meetings were held with various investment parties of Pakistani steel plants.

In this regard, various companies from China, Russia and Korea have shown interest, according to a statement from the Privatization Ministry.

Speaking on this occasion, the minister said that the government will do its utmost to resolve all issues so that the deal can be completed on time.

“We must strictly follow the schedule and complete the task within the specified period,” Soomro said.

Read: Federal Cabinet gives green light to privatize Pakistani steel mills

Moreover, other issues related to berth use, registration of a new subsidiary, and others were discussed in detail.

The meeting was attended by the Federal Secretary for Privatization, the Additional Secretary for Industries, and other senior officials in the Ministry, Chairman and Chief Financial Officer of PSM, who participated via the video link.

Earlier in October, the Federal Minister for privatization Muhammad Mian Soomro He had announced that the privatization of four to five state-owned enterprises would be completed by June 2021.

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