{"id":70079,"date":"2020-09-04T10:35:17","date_gmt":"2020-09-04T05:35:17","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=70079"},"modified":"2020-09-04T10:35:18","modified_gmt":"2020-09-04T05:35:18","slug":"pc-board-approves-sale-majority-shares-psm","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/pc-board-approves-sale-majority-shares-psm.html","title":{"rendered":"Privatisation Commission board approves sale of majority shares in PSM"},"content":{"rendered":"\n<p>Islamabad: The Privatisation Commission board has provided its approval to the proposed sale of majority shares in the Pakistan Steel Mills through a subsidiary, a news source reported. The board members further sanctioned a transaction structure for the industrial unit.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/privatisation-commission-auction-state-owned-properties.html\" target=\"_blank\" rel=\"noreferrer noopener\">Privatisation Commission to auction government owned properties in Islamabad, Lahore, other cities<\/a><\/p>\n\n\n\n<p>Under the structure decided, the buyer will be required to invest USD 1.4 billion \u2013 including USD 580 million for the reviving the largest industrial unit of Pakistan \u2013 over a period of three years.<\/p>\n\n\n\n<p>The board also announced its decision to establish a subsidiary of PSM under Companies Act 2017; which will be tasked with selling PSM\u2019s shares. The board also considered the alternative of leasing out the unit for 30 years but decided against it.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/cabinet-committee-agrees-to-revoke-punjab-privatisation-board-act.html\" target=\"_blank\" rel=\"noreferrer noopener\">Cabinet committee agrees to revoke Punjab Privatisation Board Act<\/a><\/p>\n\n\n\n<p>Nearly 51% to 75% of PSM shares are expected to be picked up for sale following the announcement; however, a final decision on the matter will be taken by the Cabinet Committee on Privatisation (CCOP).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Privatisation Commission board has provided its approval to the proposed sale of majority shares in the Pakistan Steel Mills through a subsidiary, a news source reported. The board members further sanctioned a transaction structure for the industrial unit. Read: Privatisation Commission to auction government owned properties in Islamabad, Lahore, other cities Under the structure decided, the buyer will be required to invest USD 1.4 billion \u2013 including USD 580 million for the reviving the largest industrial unit of Pakistan \u2013 over a period of three years. The board also announced its decision to establish a subsidiary of PSM under Companies Act 2017; which will be tasked with selling PSM\u2019s shares. The board also considered the alternative of leasing out the unit for 30 years but decided against it. Read: Cabinet committee agrees to revoke Punjab Privatisation Board Act Nearly 51% to 75% of PSM shares are expected to be picked up for sale following the announcement; however, a final decision on the matter will be taken by the Cabinet Committee on Privatisation (CCOP).<\/p>\n","protected":false},"author":57,"featured_media":63768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[34957,22570,38566],"persona":[],"class_list":{"0":"post-70079","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-pakistan-steel-mills","9":"tag-privatisation-commission","10":"tag-privatisation-commission-board-approves-sale-of-majority-shares-in-psm","11":"cat-15012-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PC board approves sale of majority shares in PSM - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The Privatisation Commission board has provided its approval to the proposed sale of majority shares in the Pakistan Steel Mills through a subsidiary, a news source reported.\" \/>\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\/pc-board-approves-sale-majority-shares-psm.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PC board approves sale of majority shares in PSM - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The Privatisation Commission board has provided its approval to the proposed sale of majority shares in the Pakistan Steel Mills through a subsidiary, a news source reported.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/pc-board-approves-sale-majority-shares-psm.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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