February 01, 2015 12:09 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 flat steel products in Pakistan. Its products include billets, hot and cold rolled products, galvanized products, formed sections, pig iron, coke, and refractory bricks. The company’s by-products include oxygen and nitrogen, coal tar, granulated slag, boulder slag, and ammonium sulphate. It also offers engineering design, electronic, electrical, mechanical, metallurgical, engineering testing, and electrical testing and calibration services. The company sells its products through a network of dealers. Pakistan Steel Mills Corporation (PVT) LTD. was founded in 1968 and is based in Karachi, Pakistan with sales offices in Bin Qas...

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 Executive Director
Age: 58
Acting Chief Finance Officer
Director of Production
General Manager of I/c. (Technical Services)
Acting Principal Executive Officer of A&P/Commercial Directorate
Compensation as of Fiscal Year 2014.

Pakistan Steel Mills Corporation (PVT) LTD. Key Developments

Pakistan Steel Mills To Be Privatized

The government said that it has received two bids from domestic banks for financial advisory services for the sale of the largest industrial complex of the country, Pakistan Steel Mills Corporation (PVT) LTD. By the end of the third deadline on Wednesday, two investment bank-led consortia filed bids in response to the expressions of interest sought by the privatisation commission for hiring a financial adviser for facilitating the sale of loss-making PSM. PC Chairman Mohammad Zubair confirmed that the commission had received bids from prospective financial advisers, but he did not disclose the number of offers. "Bids will be opened on Tuesday and the financial adviser will be on board next week."

Pakistan Government Mulls Privatization Of Pakistan’s Major Companies

The Pakistan government is looking for privatization of major Pakistan Companies. The Pakistan government said two investment bank-led consortia had filed bids in response to the expressions of interest (EOI) sought by the Privatisation Commission (PC) for hiring a financial adviser for facilitating the sale of Pakistan Steel Mills Corporation (PVT) LTD. Mohammad Zubair, Chairman of PC, talking to The Express Tribune confirmed that the commission had received bids from prospective financial advisers, but he did not disclose the number of offers. "Bids will be opened on Tuesday and the financial adviser will be on board next week," Mohammad Zubair said. Its next target is the offer of its remaining 42% stake in the Habib Bank Limited(KASE:HBL). PC expects to receive an estimated $1.36 billion from the sale of HBL shares, which it to complete in April 2015. The government is also looking to sell stakes in National Power Construction Corporation (Pvt) Limited (NPCC) and Heavy Electrical Complex (Pvt.) Ltd. (HEC). These are part of the four transactions that are targeted to be completed in the current year. NPCC is expected to attract a price of $ 19.58 million whereas HEC is valued at $9.8 million. "Due diligence of NPCC, Faisalabad Electricity Supply Company and Pakistan International Airlines Corporation (KASE:PIAA) are in progress," said Asad Rasool, Senior Consultant of PC. The conversion has been done using oana.com on January 17, 2015.

Privatisation Commission Extends Deadline For Bids Of Pakistan Steel Mills

Privatisation Commission (PC) has extended the deadline for submission of bids for Pakistan Steel Mills Corporation (PVT) LTD. for the third time. Investment banks have given a cold shoulder to government’s efforts to hire a bank as financial adviser (FA) to sell Pakistan Steel Mills, pushing the deadline to January 12, 2015. The original date for submitting the bids was November 28, 2014, which was first extended to December 12, 2014 and then to December 29, 2014. "Despite twice revising the deadline, the PC did not get bids from prospective parties interested to undertake the challenging job of becoming the FA to help sell out PSM", said an official of PC.

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