The Economic Coordination Committee—ECC has taken the decision of placing Pakistan Steel Mills on the privatization list.
The decision was taken during a meeting of the ECC that was held on the 3rd of May and was led by the Prime Minister’s Adviser on Finance—Dr Abdul Hafeez Sheikh.
During the meeting, the ECC took the summary into consideration that was submitted by the Ministry of Industries and Production on the 16th of April about the Appointment of Transaction Advisory Consortium for the revival of the institution.
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The ECC gave agreement to the suggestion of the Ministry of Industries and Production for placing Pakistan Steel Mills on the privatization list. The Ministry was also given instruction by the ECC to make an official proposal for this.
Previously, the Minister of State for Parliamentary Affairs—Ali Muhammad Khan informed the National Assembly that the government was not thinking about the privatization of Pakistan Steel Mills.
He said that Pakistan Steel Mills is a national asset like many other government-owned entities.
The minister further added that the Steel Mills has been removed from the list of privatization and government is bent on its revival to transform it into a profit-making institution.
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