First committee (constituted by (CCoP) meeting to discuss transaction structure of PSM held

Islamabad, December 10, 2020

Federal Minister for privatisation Mohammedmian Soomro chaired a committee meeting to review the transaction structure for the Steel Mills of Pakistan (PSMC). The committee constituted by the Cabinet Committee on Privatisation (CCoP), on 19th October, 2020; comprised Minister for Industries & Production Hammad Azhar, Chairman, Board of Investment, Secretary Privatisation, Secretary Finance and Financial advisors for PSMC. Advisor to PM on institutional reforms, Ishrat Hussain; SAPM on Petroleum Nadeem Baber, SAPM on Power Tabish Gohar, attended the meeting on special invitation.

In the meeting; the transaction structure for the revival of Pakistan Steel mills was discussed in a holistic manner.
The participants unanimously agreed to the transaction structure recommended by the PC Board and presented to the CCoP in its meeting held in November, 2020.

The committee recommended that the transaction structure as proposed by the Ministry of Privatisation may be placed before CCoP in the next meeting for approval.