September 30, 2016 12:24 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 A & P Directorate
Compensation as of Fiscal Year 2016.

Pakistan Steel Mills Corporation (PVT) LTD. Key Developments

Privatization Of PIA And Pakistan Steel Mills Fails

Nine state-owned enterprises including Pakistan International Airlines Corporation (KASE:PIAA) and Pakistan Steel Mills Corporation (PVT) LTD. re part of the active list of privatisation, Minister of State and Privatization Commission Chairman Mohammad Zubair said. Talking to APP, Zubair said first of four stages of the privatisation process of PIA and PSM had been completed while further work was under way. He said the Sindh government had expressed its interest in buying the steel mill.

Government Resumes The Process Of Privatizing PSM and KAPCO

After facing delay in its plan of privatizing public sector entities, the federal government on July 14, 2016 decided to resume the process of privatizing Pakistan Steel Mills Corporation (PVT) LTD. and power sector companies including Kot Addu Power Co. Ltd. (KASE: KAPCO). The Cabinet Committee on Privatization (CCoP) has allowed the Privatization Commission to go ahead with the divestment of Pakistan Steel Mills Corporation (PVT) LTD, PIA, Kapco and power sector entities. Sources said that a meeting of the CCoP chaired by Finance Minister Ishaq Dar on July 14, 2016, was put up a proposal by the Privatization Commission for taking a decision regarding privatization of Pakistan Steel Mills.

Privatization Of PIA And Pakistan Steel Mills Fails

The Pakistan government's privatization programmed for the current fiscal year, 2016-2017 has failed despite tall claims. The privatization process of Pakistan International Airlines Corporation (KASE:PIAA), Pakistan Steel Mills Corporation (PVT) LTD. and power distribution companies could not be initiated despite repeated assurances given to the IMF by the government. The matters regarding privatization of Pakistan Steel Mills stand suspended between the Privatization Commission and the Sindh government for the last six months, Asianet Pakistan reported.

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Recent Private Companies Transactions

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