Pakistan Steel Mills (PSM) is probably to be placed again on the privatization list as per a decision that is expected to be taken during a meeting of the Economic Coordination Committee today.
As per sources quoted by the report published by Business Recorder, PSM is expected to be placed on the active list for the process of privatization once again. The report mentions that the committee is also anticipated to approve the Transaction Advisory Consortium appointment based on the international competitive bidding.
It has been approximated that nearly 5 to 6 international companies have contacted the federal government to reach an arrangement with the government for the privatization and revival of PSM.
Furthermore, the Ministry of Industries and Production was instructed by the ECC to submit an official summary for the revival of PSM after making a consultation and taking into consideration from the study done by the professionals led by Khalid Mansoor the CEO of Hubco.
On the other hand, it has been predicted by the Meteorological department that the temperature of the city of lights is expected to decrease during the holy month of Ramazan.
Karachi had been experiencing high temperatures and it is expected to surge until May 4.