Soomro Reiterates Govt Resolve To Revive PSM, As 12-day Roadshows Ended

Federal Minister for Privatization Mohammedmian Soomro Thursday reiterated the government's commitment to revive Pakistan Steel Mills Corporation into an profit making entity for the economic development of the country

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Sep, 2021 ) :Federal Minister for Privatization Mohammed mian Soomro Thursday reiterated the government's commitment to revive Pakistan Steel Mills Corporation into an profit making entity for the economic development of the country.

The minister chaired a meeting with national investors in Karachi after completing 12-day marathon with national and international investors for the revival of Pakistan Steel Mills (PSM), said a press release issued by the ministry.

While, talking to media, the minister expressed deep concerns that the mega industrial unit was in loss and came to standstill since 2015, on account of that current government took up the challenge and decided to revive and revitalise Pakistan Steel Mills.

The minister also reiterated that Pakistan was investors' friendly country and prime minister's personal interest in boosting the foreign investment culminated in such an encouraging response in the roadshow.

"We are hoping that the world's renowned investors consortium would participate in the revival of Pakistan Steel Mills", he said.

The Ministry of Privatization was actively pursuing this unique revival plan, which not only will strengthen the economy but spur the economic activity at a wider level.

Due to the policies of incumbent government, construction industry was taking a remarkable stride, which also contributing ultimately towards jobs creation and other economic activity, and due to which the indigenous demand of steel and iron has grown manifold, he added.

It is an ideal situation for the potential investors to come along and make this mega industrial unit run in full throttle, he remarked.

At the occasion Federal Minister assured that the whole process was run with utmost transparency, and all the decisions were deliberated and approved from PC board, CCoP and Federal Cabinet.