A general view of the deserted hot strip mill department of the Pakistan Steel Mills (PSM) on the outskirts of Karachi, Pakistan, February 8, 2016. To match Insight story PAKISTAN-STEEL/PRIVATISATION REUTERS/Akhtar Soomro

ISLAMABAD: The Expression Of Interest (EOI) for the Pakistan Steel Mills (PSM) restructuring and operations is likely to be advertised for this month. The news comes after Federal Minister for Privatization Muhammad Mian Soomro chaired a meeting on Wednesday.

The shortlist of those interested in the privatisation of Heavy Electrical Complex has been completed, and bids from interested parties have been accepted. 

The privatisation of the heavy electrical complex involves local investors; sources told The Correspondent. 

However, Punjab and the Ministry of Energy currently have reservations against the privatisation of the National Power Parks Management Company.

The issue surrounding the National Power Parks Company relates to the transfer of land, sources in the Privatization Division said. 

Furthermore, following the revised price approval, the auction phase of Services International Hotel will begin. In contrast, matters for the Jinnah Convention Center are expected to be finalised in December, sources said.

Progress was made in the privatisation of First Women Bank and Pak Reinsurance Company.

“Timely privatisation of institutions is a top priority,” says Muhammad Mian Soomro, “successful privatisation will reduce the burden on the national exchequer.”


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