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Roadshow Begins in Islamabad for Privatization of Steel Mills

According to media sources, Federal Minister for Privatization Muhammad Mian Soomro kicked off a series of roadshows in Islamabad to recruit overseas investors for the privatization of Pakistan Steel Mills (PSM). The roadshow will run until September 21, as reported.

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According to the plan, interested investors or international investment firms were told on the PSM reactivation on the first day. The federal minister noted that investors from many nations have expressed interest in Steel Mills.

On the orders of Prime Minister (PM) Imran Khan, he said, all investors were provided with all information on PSM. Ultimately, the most qualified investor or investment firm will be selected through a transparent procedure.

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The PSM will be split into two firms, according to the Cabinet Committee on Privatization (CCOP). The government will sell the majority (74%) of its holdings in Steel Corp. to private bidders while retaining the bare minimum (26%).

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