Pakistan Steel Mill Corporation will pay Rs 7.5 billion outstanding dues to national banks tomorrow. Pakistan Steel had taken loan worth Rs 19 billions from National Bank, MCB, UBL, ABL and Habib Bank, out of which only Rs 7.5 billion was outstanding and the mill had to return the loan by 2013 but it is being paid in advance due to privatization of the mill.

It is also reported that PSMC administration will be handed over to new administration by the end of this month. PSMC has been sold out to a consortium comprising Al Tawariqi Group, MMK of Russia and Arif Habib Investment of Pakistan.