Mr Syed Yusuf Raza Gilani PM of Pakistan chaired a meeting at the Prime Minister House in which the Ministry of Production gave briefing on the revival plan of the Pakistan Steel Mills.

The Prime Minister called upon the stakeholders to encourage the search for collaboration with partners including Russian Government’s offer regarding the PSM.

The Prime Minister was briefed on the efforts of the Cabinet Committee on Restructuring to undertake reforms and restructuring of the PSM including commercial and business preferences in the aftermath of losses incurred during 2008 to2009. The meeting was informed that CCOR had adopted a series of measures for PSM.

These measures include the reconstitution of Board of Directors with professionals, separation of the post of Chairman and the CEO and appointment of the Chairman from the independent Board Members.

It was also recommended to finalize the appointment of new CEO, filling of vacant post of Board of Director and to make operational the Business Plan after the appointment of the new CEO.

(Sourced from the News)