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Approval of Pre-Qualified International Investors for PSM Revival

Islamabad: According to media reports, the Privatisation Commission accepted six pre-qualified investors to resuscitate Pakistan Steel Mills on Thursday (January 20). (PSM).

Read: RDA Confirms Only State-Run Firms can Compete for RRR’s Development Contract

The Federal Minister of Privatization, Mohammed Mian Soomro, presided over a meeting of the Privatisation Board to discuss a report on potential investor prequalification. During the meeting, the minister instructed the legal team to recover the money owing to the Ministry of Privatisation. According to reports, six possible foreign investors have submitted Statements of Qualification (SOQs). A prequalification committee surveyed the prequalified parties.

Read: RS 8.2 B Ramzan Relief Package Approved by ECC

In the meanwhile, Federal Minister Soomro called a meeting to examine the ongoing privatization program. The PC informed the guests that the Ministry of Commerce (MoC) has not yet determined whether to sell off 24,4 percent of Pakistan Reinsurance Company Ltd’s shares. During the conference, the list of active privatizations, which included businesses from sectors like as energy, industry, and finance, was also discussed.

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