The issue of the PSM revival was also discussed during the Prime Minister's meeting with his economic team on Monday last where he was informed that Chinese companies are interested in taking the PSM on lease. The concerned ministry was directed by the Prime Minister to come up with a comprehensive plan regarding the proposed lease of PSM.
Sources said a meeting was also held at the Ministry of Industries on the issue of the PSM on Monday last ahead of meeting with the Prime Minister with the possibility that the plan may be discussed with the interested Chinese companies during the Premier's visit to China starting from October 7.
The Prime Minister was informed that Chinese and Russian companies have shown interest in reviving the PSM and several proposals are under consideration in this regard. The meeting reviewed various options and efforts being made for the revival of Pakistan Steel Mills.
The Prime Minister said on Friday that the government is making every possible effort to revive PSM and make it a profitable organization so that it could play its role in the development of the country. The Prime Minister said the government is striving to end fiscal burden of public sector enterprises on the national exchequer and the revival of the PSM is therefore important.
The Prime Minister said that revival of PSM is the top priority of the government. Criticizing the previous governments, he stated that they have committed a great cruelty against the nation by not reviving this loss-making entity, which had become an additional burden for years.