Saturday, 7 September 2013

Still the majority shareholder: ECC finally lays out a plan for Pakistan Steel Mills (PSM)

ISLAMABAD:

The government has abandoned the plan to fully privatise or close the country’s largest industrial unit and has decided to sell a minority stake of Pakistan Steel Mills (PSM) to a strategic partner along with management control, while also approving about three-billion-rupee fresh bailout package for the entity.

On Saturday, the Economic Coordination Committee decided that the PSM will remain a public sector enterprise, according to an official announcement. The PSM

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