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PR No.252 FINANCE MINISTER CHAIRS MEETING TO REVIEW MATTERS RELATED TO PAKISTAN STEEL MILLS Islamabad: January 26, 2017

Federal Finance Minister, Senator Mohammad Ishaq Dar, chaired a meeting here at the Ministry of Finance today to review matters related to Pakistan Steel Mills. Federal Minister for Petroleum & Natural Resources, Mr. Shahid Khaqan Abbasi, Chairman Privatization Commission, Mr. Mohammad Zubair, and Chairman Board of Investment, Dr.Miftah Ismail, attended the meeting

Chairman Privatization Commission and Secretary Industries & Production gave a detailed briefing to the Finance Minister on matters pertaining to Pakistan Steel Mills (PSM) and its administration. They also briefed the Minister on the current status of liabilities owed by PSM.

The Finance Minister said that government is committed to finding a way forward and resolving the issues of PSM. Heurged the Privatization Commission and Ministry of Industries & Production to ensure effective coordination in order to resolve the outstanding issues of PSM. He said all stakeholders must diligently work together to formulate a timely and effective solution for addressing PSM’s liabilities which are causing a strain on the national exchequer.

The Finance Minister said that the government is keen to undertake all necessary measures to ensure thatPSM makes its due contribution to Pakistan’ economy. He said the fact that the government is paying the salaries to PSM’s employees, even when no production is taking place, is proof of the government’s commitment to ensuring the welfare of the workers of PSM.

The meeting was also attended by senior officials of the Ministry of Finance, Privatization Commission and PSM.

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