A cabinet committee led by Finance Minister Miftah Ismail heard the chairman of the privatisation commission’s plan to restart Pakistan Steel Mills, according to ARY NEWS.
The chairman outlined a plan for reviving the steel mills and said that it might be done with the assistance of foreign investment.
Along with several job chances, “modern technology might also be transferred to Pakistan throughout the restoration phase,” it stated.
The committee was informed of the visit of representatives from the Pakistan Steel Mills and their interest in investing in the project by Boa Steel, a state-owned Chinese firm. “The restoration plan also includes the commercial lease of the 1229 acres of land owned by steel mills and a jetty.”
The finance minister gave the industries, electricity division, and maritime affairs ministries instructions to address pressing difficulties as the cabinet body applauded the restoration plan.