January 23, 2018 7:59 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.

Acting Chief Finance Officer
Acting Principal Executive Officer of Commercial Directorate
Principal Executive Officer of Production Directorate
Age: 61
Acting Principal Executive Officer of TS / Commercial / BMR&E / HWT / CE (PSFCL)
Age: 59
Compensation as of Fiscal Year 2017.

Pakistan Steel Mills Corporation (PVT) LTD. Key Developments

NPGCL And Others To Be Privatized

Northern Power Generation Company Limited (NPGCL) may be sold. After detailed discussion Privatization Commission Board (PCB) of Pakistan has decided to seek approval of the government to privatize NPGCL, Faisalabad Electric Supply Company Limited (FESCO) and Islamabad Electric Supply Company Limited (IESCO) as strategic sale. A press release stated that PCB also discussed and adopted accounts in respect of the Commission and constituted committees to resolve outstanding administrative and financial issues. The PCB extended their approval to initiate next steps for the privatization of SME Bank Ltd. and Heavy Electrical Complex (Pvt.) Ltd. It was hoped that privatization of this entities would soon take place to facilitate the improvements required for the entities. The Board also decided to work out a detailed plan to suggest way forward regarding hiring of Financial Advisers to divest GoP shares in Mari Petroleum Company Limited (KASE:MARI). Privatization Commission's Board was apprised about the progress in proposed privatization of Pakistan Steel Mills Corporation (PVT) LTD. The prospects of privatization of Pakistan International Airlines Corporation Limited (KASE:PIAA) were also deliberated at length in the PC Board Meeting.

Ansteel To Participate In PSM Bidding

Ansteel Group Corporation has expressed intention to participate in the bidding process for the privatization of Pakistan Steel Mills Corporation (PVT) LTD. According to Privatisation Commission, the representatives of Ansteel Group held a detailed meeting with Secretary Privatisation Commission Sardar Ahmad Nawaz Sukhera, here on February 18, 2017, to discuss the updates on the Privatisation of PSMC. Ansteel expressed eagerness to participate in the bidding process and requested to keep them updated on further developments regarding the transaction.

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 5% 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.

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Recent Private Companies Transactions

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