Supreme Court Seeks PSM Privatization Plans
PSM PrivatizationWiki

Supreme Court Seeks PSM Privatization Plans

Pakistani media reported that Pakistan’s Supreme Court has directed the Privatisation Commission to submit plan regarding privatization of Pakistan

Pakistani media reported that Pakistan’s Supreme Court has directed the Privatisation Commission to submit plan regarding privatization of Pakistan Steel Mill. During the course of proceedings, Justice Mazahar Ali Naqvi said that if private steel mills were profitable then what the problem of PSM was. He said that the court was not halting the privatisation process, however, the government should keep the court's decision in mind.

The Supreme Court also appointed senior lawyer Mr Rashid A Rizvi as a mediator for settlement between employees and mill management. The court therein directed Mr Rizvi to submit a report after meeting with the mill employees and management.

Last week, Supreme Court had said that PSM does not practically exist, therefore, the court will "will order the closure of the company and the removal of all PSM employees."

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