Pakistan Steel excluded from CPEC framework

Pakistan Steel excluded from CPEC framework

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The federal government has decided to exclude Pakistan Steel Mills (PSM)—which has remained closed for almost five years—in the China-Pakistan Economic Corridor (CPEC) framework.

Sources in the Ministry of Industries said that the decision to sell PSM through global competitive bidding was taken at the prime minister’s level a few weeks ago.

Prime Minister Imran Khan, Commerce and Industries Adviser Abdul Razak Dawood, Planning Minister Asad Umar and Privatization Minister Mohammad Mian Soomro were in favor of including PSM in the CPEC framework, the sources said.

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