Pakistani Daily Business Recorder reported that Sui Southern Gas Company Limited has not yet issued requisite No Objection Certificate to Pakistan Steel Mills Corporation, which is necessary to move forward on privatisation process, despite strong recommendations by Pakistan’s Finance Minister Shaukat Tarin. Sources told Business Recorder “SSGCL has not issued NOC as of today as the gas utility is demanding ownership of 8000 acres of land of PSM against the NOC, which is not possible.”Sui Southern Gas Company had been requested to remove claim on 1229 acres of Pakistan Steel Corp land only and shift the claim to remaining 18000 acres to recover outstanding receivables. Sui Southern Gas Company Board of Directors is headed by former Caretaker Finance Minister Mr Shamshad Akhtar.PSM transaction cannot move ahead until SSGCL issues NOC on 1229 acres of land of Steel Corp, the new company, which is responsible for privatisation of PSM.
Pakistani Daily Business Recorder reported that Sui Southern Gas Company Limited has not yet issued requisite No Objection Certificate to Pakistan Steel Mills Corporation, which is necessary to move forward on privatisation process, despite strong recommendations by Pakistan’s Finance Minister Shaukat Tarin. Sources told Business Recorder “SSGCL has not issued NOC as of today as the gas utility is demanding ownership of 8000 acres of land of PSM against the NOC, which is not possible.”Sui Southern Gas Company had been requested to remove claim on 1229 acres of Pakistan Steel Corp land only and shift the claim to remaining 18000 acres to recover outstanding receivables. Sui Southern Gas Company Board of Directors is headed by former Caretaker Finance Minister Mr Shamshad Akhtar.PSM transaction cannot move ahead until SSGCL issues NOC on 1229 acres of land of Steel Corp, the new company, which is responsible for privatisation of PSM.
