The committee will review the plan to close steel mills and auction their facilities and explore options to revitalize PSM with the cooperation of the private sector.
Senior officials, including Federal Minister for Industry and Production, Additional Secretary for Industry and Production, Senior Member of Sindh Board of Revenue, Joint Secretary of Finance, CEO of PIDC, representatives of Trade Unions and two independent board members of steel mills have been appointed to the committee.
This move comes at a time when the interim government has excluded PSM from its privatization program and updated the list of other state enterprises that should be transferred to the private sector.
In general, 4 institutions will be privatized within the scope of 26 states of emergency. Privatization Minister Fawad Hasan Fawad had earlier said that PSM was not suitable for privatization and was a "dead horse".
The committee's work could be an important turning point for the future of PSM and Pakistan's steel industry.
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