PR No. 12 Islamabad: December 1, 2016

The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired a meeting here with the Privatization Commission of Pakistan to review the matters related to Pakistan Steel Mills.

Chairman Privatization Commission gave a detailed presentation on matters pertaining to Pakistan Steel Mills (PSM) and its administration. Secretary Industries and Production informed that the new CEO of PSM has assumed charge and is attending to issues related to administration and finance.

After the presentation, the Finance Minister directed the Privatization Commission and Ministry of Industries and Production to coordinate and suggest measures to resolve the outstanding issues at the Mills.

The Minister said that government is committed to finding a way forward and resolving the issues of PSM. He said that the government is keen to encourage the participation of the private sector in PSM in order to make sure that this asset makes its due contribution to Pakistan’ economy, including through creation of jobs. He highlighted that the government’s commitment to the workers of PSM is demonstrated by the fact that the government paying the salaries to the employees, even when no production is taking place.

Chairman, Privatization Commission, Secretary Industries & Production, Special Assistant to Finance Minister, CEO PSM and other senior officials of Finance Division participated in the meeting.