Islamabad: The Privatisation Commission on Thursday (January 20) granted approval for six pre-qualified investors for the revival of Pakistan Steel Mills (PSM), according to media reports.
Federal Minister Privatisation Mohammed Mian Soomro chaired a Privatisation Board meeting to discuss the report related to the prequalification of potential investors. During the meeting, the minister ordered the legal team to recover the amounts payable to the Ministry of Privatisation.
Reportedly, six interested international investors submitted Statement of Qualification (SOQs). A prequalification committee was established to survey the pre-qualified parties.
Similarly, Federal Minister Soomro held a meeting to review the ongoing privatisation program. In the meeting, the PC briefed the attendees that the Ministry of Commerce (MoC) has not yet decided whether to divest 24.4% shareholding in Pakistan Reinsurance Company Ltd. The meeting also discussed the list of active privatisations, which encompassed companies from different sectors including power, industrial and financial sectors.
Moreover, the meeting was informed that the expression of interest for House Building Finance Company Ltd (HBFCL) has been published. It was mentioned that the deadline to submit applications was January 31, 2022, and the privatisation process is expected to be completed by June 2022.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
