February 20, 2017 1:39 AM ET

Metals and Mining

Company Overview of Pakistan Steel Mills Corporation (PVT) LTD.

Company Overview

Pakistan Steel Mills Corporation (PVT) LTD. manufactures and sells steel products in Pakistan. Its products include steel billets; hot rolled carbon steel coils, sheets, strips, and plates; cold rolled sheets/coils; galvanized sheets; formed sections; foundry grade and conversion grade pig iron; metallurgical coke; oxygen and nitrogen; refractory bricks; and by-products, such as coal tar, granulated slag, boulder slag, and ammonium sulphate. The company also offers services, including engineering design, electronics, electrical, mechanical, metallurgical, engineering testing, and electrical testing and calibration services. It sells products through a network of dealers. Pakistan Steel Mills...

Bin Qasim

Karachi,  75000

Pakistan

Founded in 1968

Phone:

92 21 992 6422 2

Fax:

92 21 347 5015 6

Key Executives for Pakistan Steel Mills Corporation (PVT) LTD.

Chief Executive Officer and Director
Acting Chief Finance Officer
Acting Principal Executive Officer of Commercial Directorate
Principal Executive Officer of Production Directorate
Age: 60
Acting Principal Executive Officer of Technical Services/ Production/ HRD / BMR&E /A&P / HWT Directorate / C.E. ( PSFCL )
Compensation as of Fiscal Year 2016.

Pakistan Steel Mills Corporation (PVT) LTD. Key Developments

PSM Transaction Deferred By CCoP

The much-awaited decision on the fate of Pakistan Steel Mills Corporation (PVT) LTD. was deferred indefinitely on January 27, 2017 by the Cabinet Committee on Privatisation (CCoP) which simultaneously put on hold the five per cent divestment of the government residual shareholding in the Oil and Gas Development Company (OGDCL). The transactions of PSM and OGDCL were on the agenda of the CCoP meeting which was rescheduled twice over the past one week.

Pakistan Steel, PIA And OGDCL To Be Privatized By June

The government will complete transactions of three major public sector entities by June this year, Chairman of Privatization Commission, Muhammad Zubair said. In addition to Pakistan Steel Mills Corporation (PVT) LTD., the government has decided to complete the transactions of Pakistan International Airlines Corporation Limited (KASE:PIAA) and Oil and Gas Development Company Limited (KASE:OGDC) by June this year, Zubair said. A company will take over the PSM in June, he said, adding the two considered objectives of the decision are to stop bleeding the revenue and to get the mill running on a sustainable basis.

Update On Privatization Of Pakistan Steel Mills

Federal government plans to lease out Pakistan Steel Mills Corporation (PVT) LTD. for the next 45 years instead of privatizing it, said sources of Privatization Commission. A proposal has been made and two companies, Iran's representative Siddique Steel and China Bio Company's syndicate in Lahore, are going to overview 45years lease opportunity. According to sources, once the board of Privatization Commission grants permission to lease out PSM for 45 years, then the proposal will be discussed in a session of Cabinet Committee on Privatization on January 20, 2017, that will be chaired by Ishaq Dar.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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