ISLAMABAD: The National Assembly standing committee on industries and production on Wednesday agreed on reconstruction plan for the revival of Pakistan Steel Mill (PSM) proposed by Privatization Commission.
The Committee meeting was held under the chairmanship of Asad Umer in Parliament House here.
While Chairman Privatization Commission Muhammad Zubair informed the committee that government ensured transparency in Pakistan Steel Mill during different induction at high post in the organization.
Zubair said that the government is fully committed to attract international investors and remove misperception regarding privatization process.
He informed the committee that PSM gas supply has been curtailed by the Sui Southern Gas Company due to outstanding dues.
Economic Coordination Committee (ECC) of the Cabinet has approved a bailout package of Rs18.5 bln for the mill,Chairman Privatization Commission said.
Chairman Privatization Commission informed the committee that the government would look into both options of sale and lease for the PSM.
While Chairman Committee Asad Umer expressed his concern over the daily losses being faced by the Steel Mills and strongly recommended the government to resolve the issue on a priority basis.
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