Federal Minister for Industries and Production Shahzada Ahsan Sheikh on Thursday said a bailout package of Rs 11 billion would be released for the Pakistan Steel Mills (PSM) on May 16. The minister hoped that the financial injection would enable the PSM to increase its production up to 60 percent by August. The federal minister stated this at a luncheon hosted in his honor by the Export Processing Zones Authority (EPZA) at a local hotel. The minister said that developing business opportunities in Karachi was the government’s top priority and it was focusing on resolving all problems being faced by the business community. “We also need to explore other business avenues in the local and international market to improvise with saturation and other issues,” the minister added.
