Pakistan’s Supreme Court’s 9 member bench hearing a constitutional petition against the PSM privatization has asked the finance director of the PSMC to help it evaluate the historical and market value of the mills.

Court also directed Advocate Wasim Sajjad, Pakistan Steel Mills’ legal counsel, to provide evaluation reports of the mills conducted by Sadruddin Associates, Aqeel Karim Dhedhi Securities (Pvt) Ltd and Nanji.

Barrister Zafarullah Khan lead counsel for the petitioners said that the evaluation of Pakistan Steel Mills was also conducted on behalf of the Privatisation Commission by Global City Marketing (Pvt) Ltd, a subsidiary of the Citi Bank and Arif Habib Securities, which also happens to be a buyer of the plant.