Mian Raza Rabbani, leader of the opposition in Senate has accused the government of privatizing Pakistan Steel Mills PSMC in hurry to benefit the ‘land mafia’ and make the country a ‘client state’ by selling strategic assets to foreign investors. He said his party was opposed to the privatization of national strategic assets to foreign investors and PSM is a national asset, which is considered to be the key to industrial development and its privatization would make Pakistan a ‘client state’ depending upon the foreign investors

“The government seems in a hurry to privatize the PSM and there are rumors that the City Bank is behind this move,” he said. The PPP legislator said the government was violating its own policy by privatizing a profit-earning public sector asset, running with the production capacity of 93 percent.