PSM attracts investor interest; revival in sight
- Investment companies from China, Russia, and Korea show keen interest in investing in Pakistan Steel Mills due to its sheer potential
Islamabad: Roadshow continued for the third consecutive day on Wednesday as renowned national and international investors shown interest in the revival of the Pakistan Steel Mills (PSM).
The Privatisation Division started conducting roadshows from September 13 with international investment companies including China, Russia, and Korea.
These investment companies showed keen interest in investing in PSM due to its sheer potential and importance in the economy of the country.
On Wednesday, a leading Chinese consortium was briefed about the future prospect of the venture and details regarding the sale of shares in the newly-formed subsidiary of the PSM through Scheme of Arrangement (SoA).
Federal Minister and Secretary for Privatisation responded to their queries along with the financial advisors, senior legal consultants, and senior officers of the ministry.
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The investors were informed that the response mechanism from the Ministry of Privatisation will be swift, effective and investors’ friendly, all the relevant information will be provided up to the satisfaction of the potential investors.
The roadshow will last till 21st of this month, and the participation of investment companies from other countries is also expected in the coming days.
The federal minister also chaired a review meeting, he was briefed about the current status of various transactions and expected dates of completion.
The transactions of Jinnah Convention Center (JCC), Heavy Electrical Complex (HEC) are at an advanced level.
The federal minister said that it is so encouraging that the prime minister himself has taken a keen interest in the developments made in the privatisation programme and assured in a one-on-one meeting that he himself will assist to resolve the issues/difficulties faced by the ministry at various levels/forums.
In the review meeting, a detailed plan for the DISCOs was also discussed.
Copyright Business Recorder, 2021
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