CCOP Reviews Transaction Structure For The Revival Of Pakistan Steel Mills

Federal Minister for Finance and Revenue, Mr. Shaukat Tarin, presided over the meeting of the Cabinet Committee on Privatization (CCOP) held at the Finance Division today. Federal Minister for Industries and Production, Mr. Khusro Bakhtyar, Advisor to PM on Institutional Reforms and Austerity, Dr. Ishrat Hussain, Federal Minister for Privatization, Mian Muhammad Soomro, Federal Secretaries, Chairman SECP, and other senior officers participated in the meeting. ALSO READ FBR Issues Directives for Inquiry into Suspicious Exemptions Certificates Secretary privatization Commission briefed the Committee about the progress made regarding the decisions taken during the last meeting of CCOP held in June 2021. The Committee examined the substantive arguments for proceeding further with reference to the transaction structure for the revival of Pakistan Steel Mills Corporation (PSMC). The meeting approved the proposal to issue the scheme of Arrangement as requested by PC and approved by PC Board. The Finance Minister urged the Privatization Commission to expedite the process of soliciting Expression of Interest (EOI) and try to close the transaction at the earliest. ALSO READ Remittances Continued to Stay Above $2 Billion for 14th Consecutive Month The Finance Minister appreciated the efforts of all concerned Ministries/Departments for their valuable contribution to the revival of PSMC.