Tag Archives: Psm

‘Pakistan, a nuclear power that can’t operate a small steel mill?’

‘Pakistan, a nuclear power that can’t operate a small steel mill?’

Pakistan Steel Mills is for sale but the government cannot find a buyer as it struggles to get privatisations back on track after a series of setbacks. A glance at PSM’s finances may explain why. The company has $3.5 billion in debt and accumulated losses, loses $5 million a week and has not produced steel at its 19,000-acre facility since June last year. That was when the national gas company cut power supplies, demanding payment of bills of over $340 million.

PSM claims to achieve target

Pakistan Steel is commencing higher production of its quality brands in accordance with the targets laid down by the ministry of industries and production, the PSM spokesman claimed. Giving details, the spokesman

NA adopts five resolutions unanimously

The National Assembly on Tuesday unanimously adopted five resolutions stressing the government to ensure the elimination of terrorism, abolishing of the system of mark up and taking steps to pull Pakistan Steel

No suggestion in question to privatise PSM

Industries Minister Ghulam Murtaza Khan Jatoi on Thursday informed the Upper House of parliament that there is no suggestion under consideration to privatize the Pakistan Steel Mills (PSM). To a calling attention

Suggestions sent for PSM privatisation!

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

Russia to provide $1b to PSM: BOI chairman

Sergey Abutidze, Deputy General Director for Development, JSC TECHNOPROMEXPORT Russia called on Chairman BOI, Mohammad Zubair and discussed the Projects of Conversion to Coal of Muzaffargarh Thermal Power Station, Establishment of new

PSM gives Rs680mn cheques to KESC

After successful talks with the Karachi Electric Supply Company (KESC), Pakistan Steel Mills (PSM) Chief Executive Officer (CEO) Saadat Cheema has managed to restore 132 KVA high power supply to the mill.