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Federal Government Decides To Privatise Pakistan Steel Mills

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ISLAMABAD– Opposing the decision of ex-finance minister Asad Umar, Imran Khan-led government has decided to place Pakistan Steel Mills on the privatisation list.

The decision was taken during a meeting of the Economic Coordination Committee (ECC) chaired by Prime Minister’s Adviser on Finance Dr Abdul Hafeez Sheikh.

ECC revoked the decision of former Finance Minister Asad Umar to remove Pakistan Steel Mills from the list of companies which would be privatised.

During the meeting, the ECC considered the summary submitted by the Ministry of Industries and Production from April 16 regarding the Appointment of Transaction Advisory Consortium for the revival of Pakistan Steel Mills.

The ECC agreed to the proposal of the Ministry of Industries and Production for placing Pakistan Steel Mills on the privatisation list.

ECC directed the Ministry of Industries and Production to make a formal proposal in this regard.

SOURCE: NEWS AGENCIES