AAP reported that Mr Mir Hazar Khan Bijarani minister for industries and production has rejected the reports about privatization of Pakistan Steel Mills and said the government is evaluating offers from ten foreign companies for revitalization and expansion of this very important national asset.

PPP led government has been struggling for turning PSM a profitable and growing organization once again. We have received expression of interest from ten leading companies from different countries including Russia and China.

In a chat with media at the launching of Year Book-2010 of Export Processing Zones Authority and ceremony of certificates distribution among EPZA management trainees, Mr Bijarani said that an independent international expert was being appointed to evaluate these offers and on completion of this process the work on first phase of its expansion would start; raining its annual production capacity to 1.5 million tonnes.

He said that a committee of specialists has been formed to finalize and pursue the development plan of PSM.

He added that his party cannot even imagine for privatization of Pakistan Steel, the great national asset gifted to the people by Shaheed Zulfiqar Ali Bhutto.

(Sourced from APP)