ISLAMABAD: The Privatisation Commission Wednesday held two separate meetings on the privatisation of the Pakistan Steel Mills (PSM) and on the progress made in transaction of other entities.

The first meeting was co-chaired by Minister Privatisation and Minister Finance and Industries to review the progress in the transaction of the PSM.

Federal Minister for Privatisation Mohammedmian Soomro and Federal Minister for Finance and Industries Hammad Azhar co-chaired the weekly progress review meeting about the revival of the PSM. Federal Secretary Privatisation, Secretary, Additional Secretary Industries, and other senior officials of the ministries and financial advisor attended the meeting. Representatives of the PSM and Evaluator participated via video link.

The ministers were briefed about the current status and progress and probable timeline for the completion of the said transaction.

The issues related to the formation of a new subsidiary, use of jetty and conveyor and others were deliberated upon in detail.

Other weekly progress review meeting about the privatisation of entities in active list is also called under the chairmanship of federal minister/chairman privatisation, Mohammedmian Soomro here today. Federal Secretary Privatization, DGs, transaction managers, financial advisors and others attended the important meeting.

Federal Minister for Privatisation Mohammedmian Soomro sought the progress in the privatisation of various PSEs.

The matter relating to the two power plants of National Power Parks Management Company Ltd (NPPMCL), First Women Bank, SME Bank, Jinnah Convention Center, Services International Hotel, Sindh Engineering Company, and various other entities were discussed in detail.

Mohammedmian Soomro directed that the work on the PSEs included in the active privatisation list should be completed on priority and all legal and administrative issues related to the privatisation of these PSEs be completed.

Copyright Business Recorder, 2021