IRNA Chinese and Iranian state-owned companies are interested in taking over loss-making Pakistan Steel Mills (PSM) as part of a long-term lease deal, Privatisation Commission Chairman Mohammad Zubair has said. Built by the Soviet Union in 1970s, state-owned PSM has become a huge drain on government resources and shuttered steel production in 2015....

IRNA Pakistan Senate Standing Committee on Finance has been informed that in the absence of a buyer, the government planned to lease out the Pakistan Steel Mills (PSM) to a Chinese or Iranian company. The committee was briefed by Privatization Commission chairman Mohammad Zubair, who said that a proposal was being drafted to lease out the mills. Talking ...

ISLAMABAD: Pakistan Steel Mills (PSM) is anxiously waiting for clearance of its barter trade proposal with Iran from the Economic Coordination Committee (ECC) of the Cabinet, official sources told Business Recorder. PSM wants to import iron ore in lieu of wheat to Iran under the barter deal but payment issue is still unresolved. The sources said ...

KARACHI: Cash-strapped Pakistan Steel Mills (PSM) and the Government Trading Corporation (GTC) of Iran, have, in principle, agreed to arrange barter trade to make their survival possible, according to officials. Pakistan Steel Mills will import iron ore from Iran against export of wheat to the neighbouring country, said Major General Muhammad Javed ...