Islamabad: Minister for Privatization Abid Hussain Bhayo on Wednesday (July 27) said that pre-qualified firms interested in buying Pakistan Steel Mills (PSM) and other state-owned enterprises (SOEs) have started on-site visits to the entities, news sources reported. Following the inspection, the firms will bid for entities as per their assessment.
According to reports, the government plans to sell 51 to 74% of the issued share capital and management control of Steel Corp (Private) Limited, a wholly-owned subsidiary of Pakistan Steel Mills Corporation (Private) Limited. The update was shared during the Privatization Commission (PC) meeting to assess the large SOEs’ ongoing privatization efforts. On the occasion, Chairman PC Bhayo stated that the government is interested in selling all loss-making enterprises to minimize revenue lost on sustaining these assets. The following SOEs were also considered at the meeting:
Transaction status of the National Power Parks Management Company Ltd. (NPPMCL), a state-owned corporation that owns and runs two Re-Gasified Liquefied Natural Gas (RLNG)-based combined cycle technology power plants in Haveli Bahadur Shah in district Jhang and Balloki in district Kasur, as well as the HBS power plant.
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