ISLAMABAD, Nov 14: Federal Minister for Privatisation Syed Naveed Qamar said on Friday that the government has stopped sale of two state-owned entities, Qadirpur Gas Field and Pakistan Steel, apparently bowing to widespread protests against the move.“

There is no plan to privatise the steel mills. The policy statement given by the prime minister in the Senate for not privatising the Qadirpur Gas Field (QGF) would be implemented in letter and in spirit,” the minister said in an official statement.

After this, he said the issue stands resolved and there was no point in continuing any protest, criticism or agitation in this context.

“No decision would be taken to privatise Qadirpur Gas without taking the parliament into confidence. All stakeholders will be consulted in the matter and the government will not proceed ahead with the process unless there is a consensus on the issue,” the minister said.

The process of privatisation of Qadirpur Gas Field has consequently been stopped, he reiterated.

The minister further clarified that the government stands by its decision not to privatise Pakistan Steel Mills Corporation (PSMC) as announced on Friday.

He dispelled the impression that any type of privatisation of Pakistan Steel was being contemplated in the near future.

He further clarified that neither privatisation, nor any Initial Public Offering (IPO) of the PSMC on the stock exchange was being contemplated as yet.

“Even the Initial Public Offering (IPO) of the PSMC shares through stock markets as decided by the Supreme Court of Pakistan was not desirable and possible at this stage when the market conditions were not favourable, which would be taken up at an appropriate time,” the minister added.