Leading investors from China, Russia show interest in Pakistan Steel Mills

Published September 18, 2021
This picture shows a roadshow held for the revival of Pakistan Steel Mills in Islamabad on Friday. — Photo courtesy PID website
This picture shows a roadshow held for the revival of Pakistan Steel Mills in Islamabad on Friday. — Photo courtesy PID website

ISLAMABAD: Leading investors’ consortiums from China, South Korea and Russia have showed interest in investing in Pakistan Steel Mills (PSM) as roadshows for renowned international and national investors were being held in Islamabad.

The Privatisation Commission which is arranging roadshows since Sept 13, says the revival of Pakistan Steel Mills would be a unique transaction as since its closure various attempts have been made to revive it.

It said this was the first time after 16 years that the Ministry of Privatisation was making unrelenting efforts, and the transaction is expected to be completed in the second quarter of next year.

The Privatisation Commission says investors’ consortium from South Korea and China held meetings with the team of the commission led by Minister for Privatisation Mohammadmian Soomro on Friday.

Financial and legal advisers and senior officials of the ministry responded to the queries from the potential investors.

Mr Soomro reiterated that the government will welcome foreign investors in Pakistan and will provide all possible facilities to investors. The revival of Pakistan Steel Mills and its functioning in its full capacity is the prime focus of the whole process.

Its revival would augur well for the economy of the country by fulfilling the indigenous demand for iron and steel, which is currently imported from China, Germany and Japan, he said.

Published in Dawn, September 18th, 2021

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