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Govt begins roadshows for PSM’s privatization

ISLAMABAD: The government has started roadshows for potential investors for the privatization of Pakistan Steel Mills (PSM) in Islamabad. Federal Minister for Privatisation Mohammedmian Soomro initiated the activity of roadshows for the revival of Pakistan Steel Mills. Federal Secretary, senior

Govt invites EoIs for Pakistan Steel Mills shares

ISLAMABAD: The government has invited Expressions of Interest (EoIs) from those interested in buying shares of Pakistan Steel Mills. The applications will be received by the Privatisation Commission from prospective investors to acquire at least 51 percent or up to

Pakistan Steel Mills terminates another 500 employees

KARACHI: The Pakistan Steel Mills has dismissed another 500 employees including the services of a number of officers falling in seven categories. In November 2020, the PSM laid off over 4,500 employees making up about 49 percent of workers and

PIA, PSM needs attention

Pakistan International Airline and Pakistan Steel Mills, being vital national assets, now need urgent and focused attention. While production minister Hammad Azhar recently stated that Since the PSM had become a liability on the exchequer, it has to be privatized

PSM layoffs

The government has sacked over 4,500 employees of the Pakistan Steel Mills. The move is not entirely surprising as the federal government had announced to layoff over 9,300 employees of the loss-making industrial complex as part of a revival process.

Bilawal condemns ‘heartless’ govt’s decision to sack 4,500 PSM workers

KARACHI: Pakistan People’s Party (PPP) chairman Bilawal Bhutto Zardari has strongly reacted to the federal government’s decision to terminate over 4,500 employees of the Pakistan Steel Mills (PSM). “The heartless government’s sacked 4500 workers of Pakistan Steel Mills,” said the

Privitisation process to contribute Rs100 billion revenue

ISLAMABAD: Privatisation Division has shortlisted ten entities that are scheduled to be sold out in the financial year 2020-21 to achieve budgeted non-tax revenue of Rs100 billion. Federal Minister Mohammed Mian Soomro chaired a meeting which reviewed and approved the

Plea filed in SHC over PSM privatization

KARACHI: A petition has been filed against the privatization of Pakistan Steel Mills (PSM) in the Sindh High Court (SHC) today. The petitioner Asim Bhatti, president PSM Labour Union has made the federal government and ministry of Production respondent in

Privatizing Steel Mills

The government has decided to privatize the Pakistan Steel Mills and dismiss over 9000 employees of the loss-making entity. We are once again witnessing a repeat of how efforts to revive or sell out the enterprise have been victim to

Govt has decided to privatize PSM: Hammad Azhar tells Senate

ISLAMABAD: The Senate was informed on Friday that said the government has decided to privatize the core operations to revive the loss-making Pakistan Steel Mills. Minister for Industries and Production Hammad Azhar informed the house that the losses of state-owned

PSM production unit closed since sixty months

KARACHI: The Pakistan Steel Mills (PSM), the nation’s largest steel-producing entity with an annual production of over 1.1 million tonnes, has been completely shut since the past sixty months since 2015 with zero production. The national asset is the largest

Privatization process

The PTI government will restart the privatization process by selling six public entities, including the Pakistan Steel Mills, to make them more profitable and receive some much-needed revenue. According to the latest programme, the government will privatize six loss-making public

Revival of Pakistan Steel Mills top priority of govt, says PM

ISLAMABAD: Prime Minister Imran Khan on Friday said the government is making every possible effort to revive the Pakistan Steel Mills and making it a profitable organisation. While chairing a meeting regarding revival of Pakistan Steel Mills, the prime minister