22
Nov
12:12
PSM board calls for further bailout or closure
Pakistan Steel (PSM)’s board of directors have called on the government to decide immediately whether to run the steelworks as a going concern or close it down. Should the former option be chosen, PSM will require a further PKR 9.3 billion ($88 million) government bailout.
The call was made after the directors were briefed about the precarious financial situation at PSM. “The board showed its serious concern and observed that time is the essence and …
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Anonymous
Very good overview of the weekly steel market.
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