Islamabad: Federal Privatization Minister Muhammed Mian Soomro started a series of roadshows in Islamabad with the objective to attract international investors, according to press reports. The roadshow has been revealed to continue until 21 September.
According to the details, potential investors or international investors were told about the revival of Pakistan Steel Mills (PSM) on the first day. The federal minister said that Steel Mills has shown an interest in investors from different countries.
He also said that all investors received information on PSM in accordance with the directives of Prime Minister (PM) Imran Khan. Finally, a transparent process will nominate the best possible investor or investment firm.
The PSM will be divided into two companies, according to the Cabinet Committee on Privatization (CCOP). The government will sell most of its stakes to private bidders (74 percent), while the government retains the minimum stakes in the Steel Corp (26 percent).