‘Privatisation of Heavy Electrical Complex, Jinnah Convention by yearend’
July 8, 2021
ISLAMABAD: Privatisation transactions of Heavy Electrical Complex and Jinnah Convention Center are expected to complete by the end of this year, a meeting was told on Wednesday.
Presiding over the meeting, Minister for Privatisation Mohammedmian Soomro said on Wednesday the focus is on the timely completion of the transactions, which were already extended due to the COVID-19 pandemic.
“We are resolved to compress the timelines for the transaction completion of the identified entities and putting an all-out effort to improve the efficiency of these public sector entities on the one hand and reduce the fiscal burden on the economy on the other,” Soomro said.
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PSM’s core assets to be leased to newly formed entity
SC seeks revival plan on country’s biggest industrial complex within two weeks
The tariff commission said the injury to PSM was caused by factors other than dumping such as over-employment, unavailability of gas and energy, extraordinary high production cost and operating expenses. PHOTO: FILE
ISLAMABAD:
The Privatisation Commission (PC) has prepared a plan for the revival of country’s biggest industrial complex – the Pakistan Steel Mills (PSM).
A senior official in the PC disclosed that under the approved transaction structure, core operating assets include steel mills plant and machinery, coke oven, by-product plan, sintering plant, iron making department, steel making plant, billet mill, gold rolling mill, galvanizing plant, gold formed section, refractory plant and oxygen plant.
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