Privatisation board to review PSM transaction structure.

ISLAMABAD -- The Privatisation Commission (PC) on Tuesday started the process of evaluating draft transaction structure for the privatisation of the Pakistan Steel Mills.

The details will be discussed by the transaction committee at its meeting on May 14.

Financial advisers hired by the PC have completed due diligence and reports received in this respect are under review by concerned stakeholders.

Based on due diligence, financial advisers formulated the draft transaction structure for inviting expression of interest from potential investors. Following the discussion on proposed transaction structure, it will be placed before the Board of Privatisation Commission and later to the Cabinet Committee on Privatisation for approval.

Privatisation Minister MuhamAmad Mian Soomro chaired a meeting on Tuesday to review the privatisation programme with special focus on some of the priority transactions.

Speaking on the matter, Soomro said the revival of the Pakistan Steel Mills is government's top priority to minimise losses being borne out of the public exchequer.

During the meeting, targets were also set for the FY2020-21. PC officials informed the minister that substantial progress has been made to conclude the transactions including the National Power Parks Management Company Limited, (NPPMCL), SME Bank, Jinnah Convention Centre, Services...

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