10
Sep
16:40
PSM creditor K-Electric approves steel mill’s privatisation
Pakistan-based K-Electric has agreed to issue a no-objection certificate (NOC) for the privatisation of debtor Pakistan Steel Mill (PSM) with management control, representing a significant step on the road to the steelmaker’s revival.
Despite electricity dues of PKR 2 billion ($11.89 million) owed by PSM, the electricity company approved the privatisation, Kallanish notes.
PSM is also aiming to get an NOC from Karachi Water and Sewerage Board (KWSB) for its…
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Anonymous
Very good overview of the weekly steel market.
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