Islamabad: Federal Minister for Privatization Muhammed Mian Soomro started a series of roadshows in Islamabad in a bid to attract international investors for the privatization of Pakistan Steel Mills (PSM), according to media reports. It was disclosed that the roadshow will continue till September 21.
As per the details, on the first day, potential investors or international investment companies were briefed on the revival of PSM. The federal minister mentioned that investors from different countries have shown interest in Steel Mills.
He went on to say that on the directives of Prime Minister (PM) Imran Khan, all the investors were provided with all the information about PSM. In the end, the best possible investor or investment company will be nominated through a transparent process.
According to the Cabinet Committee on Privatization (CCOP), the PSM will be divided into two companies. The government will sell the majority (74%) of its stakes to private bidders while the government will retain the minimum (26%) stakes in the Steel Corp.