PTI government decides to privatise Pakistan Steel Mills

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government has agreed to place Pakistan Steel Mills on the privatisation list.

The decision was taken during a meeting of the Economic Coordination Committee held on May 3 and chaired by Prime Minister’s Adviser on Finance Dr Abdul Hafeez Sheikh.

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. The Ministry of Industries and Production was also directed by the ECC to make a formal proposal for this.

Earlier this month, Minister of State for Parliamentary Affairs Ali Muhammad Khan informed the National Assembly that the government was not considering privatizing Pakistan Steel Mills. 

Under former finance minister Asad Umar, the government had decided to remove Pakistan Steel Mills from the list of companies which would be privatised.