Supreme Court seeks details of Steel Mills’ privatisation project

File photo.

ISLAMABAD: The Supreme Court has sought details of the Pakistan Steel Mill’s privatisation project.

The apex court had appointed Advocate Rasheed A Rizvi as a mediator for settlement between the PSM management and the employees.

Hearing the case of PSM employees seeking promotions, Justice Gulzar Ahmed remarked that the Karachi Shipyard, Heavy Mechanical Complex and PIA alongwith the Steel Mills were closed. Sell all the assets of the Mills and sit down at your homes, he observed.

He remarked that the court was not stopping the privatisation but keep in view the court judgement.

Privatisation Minister Muhammad Mian Soomro told the court that a bid is likely in September or October. The total worth of the PSM assets is $100 million, he added.