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ISLAMABAD: The Privatisation Division will float expressions of interest (EOIs) for revival of the Pakistan Steel Mills in March 2021.

Mohammedmian Soomro chaired a meeting regarding transaction updates, legal matters and e-office in the ministry on Thursday.

The Federal Secretary Privatisation and other senior officers of the ministry and the Privatisation Commission attended the meeting.

The federal minister was briefed that detailed meetings are being held with potential investors regarding the revival of the Pakistan Steel Mills (PSMC).

These investors/parties are from China, Russia, and Korea, and the meetings are being held almost on a daily basis.

The minister was also told that the land valuation of the PSM will be completed by the end of January, and that EOIs regarding the PSM will be sought in the month of March this year.

The matters relating to the privatisation/divestment of shares and options regarding management control of the DISCOS were also discussed.

The final decision to that effect will be taken after receiving the proposals from the Ministry of Power and other relevant forums.

The federal minister said that in order to work more efficiently, we must shift to digitization of data/e-office/e-filing without further ado; the minister also said he would himself prefer to use e-files instead of manual files.

He further directed that legal and policy matters relating to privatisation must be taken into account, and legal cases must be disposed of in a transparent and an efficient manner.

Copyright Business Recorder, 2021