{"id":57694,"date":"2019-11-18T14:31:07","date_gmt":"2019-11-18T09:31:07","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=57694"},"modified":"2019-11-18T14:31:53","modified_gmt":"2019-11-18T09:31:53","slug":"china-pakistan-discuss-inclusion-psm-cpec-framework","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/china-pakistan-discuss-inclusion-psm-cpec-framework.html","title":{"rendered":"China, Pakistan discuss inclusion of PSM in CPEC framework"},"content":{"rendered":"

Several Pakistani and Chinese officials were recently involved in a discussion pertaining to the possibility of including the Pakistan Steel Mills (PSM) in CPEC’s (China-Pakistan Economic Corridor) infrastructural development framework, a news source reported. This proposal was floated during the 9th meeting of the Joint Cooperation Committee<\/a> (JCC) held in Islamabad on November 6.<\/p>\n

As per reports, the losses and debts of the PSM have amounted to a total of PKR 510 billion. The PSM chairman recently stated that the institution\u2019s board and management were determined to revive the entity with the help of the federal government.<\/p>\n

Read:\u00a0<\/strong>PM issues directions for revival of Pakistan Steel Mills<\/a><\/p>\n

Further, they would work towards restoring its production capacity to the original 1.1 million tons during the first phase. During the second phase, the production capacity will be expanded to 3.3 million tons.<\/p>\n

The government plans on reviving the entity either through a Public Private Partnership (PPP) model managed through Privatisation Commission or by making direct investments in the project. If PSM is made part of the CPEC initiative, its operations will no longer be managed by Public Procurement Regulatory Authority (PPRA).<\/p>\n

Read:\u00a0<\/strong>China to be offered collaboration in steel, energy, agriculture sectors<\/a><\/p>\n

Meanwhile, the Stakeholders Group has offered the government its services for providing consultation on the revival plan for PSM. The group\u2019s management believes they it will be able to provide best proposals for bringing the mill to full operationalisation capacity.<\/p>\n","protected":false},"excerpt":{"rendered":"

Several Pakistani and Chinese officials were recently involved in a discussion pertaining to the possibility of including the Pakistan Steel Mills (PSM) in CPEC’s (China-Pakistan Economic Corridor) infrastructural development framework, a news source reported. This proposal was floated during the 9th meeting of the Joint Cooperation Committee (JCC) held in Islamabad on November 6. As per reports, the losses and debts of the PSM have amounted to a total of PKR 510 billion. The PSM chairman recently stated that the institution\u2019s board and management were determined to revive the entity with the help of the federal government. Read:\u00a0PM issues directions for revival of Pakistan Steel Mills Further, they would work towards restoring its production capacity to the original 1.1 million tons during the first phase. During the second phase, the production capacity will be expanded to 3.3 million tons. The government plans on reviving the entity either through a Public Private Partnership (PPP) model managed through Privatisation Commission or by making direct investments in the project. If PSM is made part of the CPEC initiative, its operations will no longer be managed by Public Procurement Regulatory Authority (PPRA). Read:\u00a0China to be offered collaboration in steel, energy, agriculture sectors Meanwhile, the…<\/p>\n","protected":false},"author":74,"featured_media":56667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[14007],"persona":[],"class_list":{"0":"post-57694","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-details-on-china-pakistan-discuss-inclusion-of-psm-in-cpec-framework"},"acf":[],"yoast_head":"\nChina, Pakistan discuss inclusion of PSM in CPEC framework - Zameen News<\/title>\n<meta name=\"description\" content=\"Several Pakistani and Chinese officials were recently involved in a discussion pertaining to the possibility of including the Pakistan Steel Mills (PSM)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/china-pakistan-discuss-inclusion-psm-cpec-framework.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China, Pakistan discuss inclusion of PSM in CPEC framework - 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