The ministry of industries has sent recommendation to the ministry of finance for privatization of Pakistan Steel Mills (PSM).
Media reports said the ministry of industries had proposed to the finance ministry for full fledge or 26 percent privatisation of PSM.
It has been further proposed to the finance ministry that PSM needed bail out package amounting to Rs 21 billion presently. Out of it, Rs 3 billion are required for payment of salaries and 9 billion rupees for raw material.
The finance ministry will present these recommendations in the next meeting of Economic Coordination Committee (ECC) taking place on Thursday.