Twelve-day Marathon For Revival Of Steel Mill Concludes

Umer Jamshaid Published September 24, 2021 | 12:18 AM

The 12-days marathon with national and international investors for the revival of Pakistan Steel Mills concluded here on Thursday

KARACHI, (UrduPoint / Pakistan Point News - 23rd Sep, 2021 ) :The 12-days marathon with national and international investors for the revival of Pakistan Steel Mills concluded here on Thursday.

Federal Minister for Privatisation Mohammed Mian Soomro chaired back to back sessions with national investors at a local hotel, said a news release.

Talking to media Muhammad Mian Soomro lamented that the mega industrial unit was in loss and came to standstill in 2015, on account of that current government took up the challenge and decided to revive and revitalise Pakistan Steel Mills.

The Federal Minister also reiterated that Pakistan is 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", said the minister.

The federal minister assured that the whole process was in run with utmost transparency, and all the decisions were deliberated and approved from Privatization Commission's board, CCoP and federal cabinet.

Soomro said "Our focus is to bring the mills in operation". Ministry of Privatisation was assisting the investors in all possible manners and it was firmly hoped that soon PSM will be revived.

Ministry of Privatisation was actively pursuing the 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 was contributing ultimately towards jobs creation and other economic activity, and due to which the indigenous demand of steel and iron had grown manifold. It is an ideal situation for the potential investors to come along and make this mega industrial unit run in full throttle.