Committee sends PSMC transaction structure to CCoP for approval

By Staff Reporter
Friday – December 11, 2020
ISLAMABAD: The first meeting of committee formed by cabinet committee on privatisation (CCoP) met on Thursday, wherein the transaction structure for the revival of Pakistan Steel Mills Corporation (PSMC) was discussed in a holistic manner.

According to a press release, privatisation minister Mohammed Mian Soomro chaired the committee meeting in federal capital.

The committee constituted by the CCoP, on October 19, 2020, comprised industries and production minister (IPM) Hammad Azhar, board of investment (BoI) chairman, privatisation secretary, finance secretary and financial advisors for PSMC.

The participants unanimously agreed to the transaction structure recommended by the privatisation commission board (PCB) and presented to the CCoP in its meeting held in November 2020.

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

Apart from committee members, the advisor to prime minister on institutional reforms and austerity Ishrat Hussain, special assistant to prime minister (SAPM) on petroleum Nadeem Baber, SAPM on power Tabish Gohar attended the meeting on special invitation.