Government plans to privatize Pakistan Steel Mills

Amidst the criticism, the Pakistan Tehreek-e-Insaaf government has been taken an array of decisions turns to embroil the nation for being unpopular. Yet again, a decision came up on Wednesday to place Pakistan Steel Mills (PSA) on the privatization list days after the ministry’s denial to privatize the country’s largest industrial asset.

The government has agreed to the proposed summary of Ministry of Industries and Production from April 16 regarding the Appointment of Transaction Advisory Consortium for the revival of Pakistan Steel Mills.

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 on May 3.

The ECC directed the Ministry of Industries and Production to make a formal proposal.

On the contrary, it was informed in the house by the Minister of State for Parliamentary Affairs Ali Muhammad Khan on Thursday that the government was not considering privatizing the Pakistan Steel Mills (PSM) saying that it was removed from the list of privatization adding that PTI government was committed to reviving the institution for converting it into a profitable entity.

Earlier, the workers of Pakistan Steel Mills protested against the possible privatization of the industry in Karachi. The demonstrators blocked the national highway in a symbolic protest.