{"id":88698,"date":"2022-09-18T10:00:00","date_gmt":"2022-09-18T05:00:00","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=88698"},"modified":"2022-09-16T14:50:49","modified_gmt":"2022-09-16T09:50:49","slug":"chinese-firms-majority-stake-psmc","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html","title":{"rendered":"Chinese firms offer to have majority stake in PSMC"},"content":{"rendered":"\n<p>Islamabad: The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC), according to news published on September 12.&nbsp;<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/investments-invited-psm.html\" target=\"_blank\" rel=\"noreferrer noopener\">Investments invited for Pakistan Steel Mills<\/a><\/p>\n\n\n\n<p>As per the details, four <a href=\"https:\/\/www.zameen.com\/news\/chinese-firms-to-revive-psm.html\" target=\"_blank\" rel=\"noreferrer noopener\">Chinese firms<\/a> have visited Pakistan and met the authorities concerned in this regard. It was informed that out of the total land operated by PSMC under the land lease agreement, the government has already transferred 6,000 acres to a company owned by the state-run steel manufacturer.&nbsp;<\/p>\n\n\n\n<p>Reportedly, several pre-qualified international investment companies have visited the premises of the steel mill. The higher officials in the government consider the privatisation of PSMC crucial for the country\u2019s economic growth. Under the privatisation plan, the government focuses on foreign direct investment along with employment generation and the creation of productive capacity for sustaining domestic infrastructure development.&nbsp;<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/ccop-soa-revival-psm.html\" target=\"_blank\" rel=\"noreferrer noopener\">CCoP approves \u2018Scheme of Arrangement\u2019 for revival of Pakistan Steel Mills<\/a><\/p>\n\n\n\n<p>The government is of the view that the steel mill\u2019s balance sheet will be cleared and losses will be transferred to another company once the transaction is completed. It is estimated that after privatisation, the steel mill production will be at one million tons in the first year; two million in the second year, and three million in the third year.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC), according to news published on September 12.&nbsp; Read: Investments invited for Pakistan Steel Mills As per the details, four Chinese firms have visited Pakistan and met the authorities concerned in this regard. It was informed that out of the total land operated by PSMC under the land lease agreement, the government has already transferred 6,000 acres to a company owned by the state-run steel manufacturer.&nbsp; Reportedly, several pre-qualified international investment companies have visited the premises of the steel mill. The higher officials in the government consider the privatisation of PSMC crucial for the country\u2019s economic growth. Under the privatisation plan, the government focuses on foreign direct investment along with employment generation and the creation of productive capacity for sustaining domestic infrastructure development.&nbsp; Read: CCoP approves \u2018Scheme of Arrangement\u2019 for revival of Pakistan Steel Mills The government is of the view that the steel mill\u2019s balance sheet will be cleared and losses will be transferred to another company once the transaction is completed. It is estimated that after privatisation, the steel mill production will be at&hellip;<\/p>\n","protected":false},"author":83,"featured_media":63768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012],"tags":[54094,50023],"persona":[],"class_list":{"0":"post-88698","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"tag-chinese-firms-offer-to-have-majority-stake-in-psmc","9":"tag-pakistan-steel-mills-psm","10":"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>Chinese firms offer to have majority stake in PSMC - Zameen News<\/title>\n<meta name=\"description\" content=\"The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC)....\" \/>\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\/chinese-firms-majority-stake-psmc.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese firms offer to have majority stake in PSMC - Zameen News\" \/>\n<meta property=\"og:description\" content=\"The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC)....\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-18T05:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Iqra Masood\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Iqra Masood\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Chinese firms offer to have majority stake in PSMC - Zameen News","description":"The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC)....","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html","og_locale":"en_US","og_type":"article","og_title":"Chinese firms offer to have majority stake in PSMC - Zameen News","og_description":"The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC)....","og_url":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html","og_site_name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","article_publisher":"https:\/\/www.facebook.com\/ZameenPK","article_published_time":"2022-09-18T05:00:00+00:00","og_image":[{"width":1170,"height":400,"url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg","type":"image\/jpeg"}],"author":"Iqra Masood","twitter_card":"summary_large_image","twitter_creator":"@ZameenProperty","twitter_site":"@ZameenProperty","twitter_misc":{"Written by":"Iqra Masood","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#article","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html"},"author":{"name":"Iqra Masood","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/377abfe4dc60870161cf052d458a2925"},"headline":"Chinese firms offer to have majority stake in PSMC","datePublished":"2022-09-18T05:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html"},"wordCount":231,"commentCount":0,"publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"image":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg","keywords":["Chinese firms offer to have majority stake in PSMC","Pakistan Steel Mills (PSM)"],"articleSection":["Allied Industries"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html","url":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html","name":"Chinese firms offer to have majority stake in PSMC - Zameen News","isPartOf":{"@id":"https:\/\/www.zameen.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#primaryimage"},"image":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#primaryimage"},"thumbnailUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg","datePublished":"2022-09-18T05:00:00+00:00","description":"The federal government has received an offer of USD 1 to 1.5 billion for the purchase of majority stakes in Pakistan Steel Mills (PSMC)....","breadcrumb":{"@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#primaryimage","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2020\/04\/Steel-Industry.jpg","width":1170,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/www.zameen.com\/news\/chinese-firms-majority-stake-psmc.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.zameen.com\/news"},{"@type":"ListItem","position":2,"name":"Chinese firms offer to have majority stake in PSMC"}]},{"@type":"WebSite","@id":"https:\/\/www.zameen.com\/news\/#website","url":"https:\/\/www.zameen.com\/news\/","name":"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News","description":"","publisher":{"@id":"https:\/\/www.zameen.com\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.zameen.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.zameen.com\/news\/#organization","name":"Zameen.com","alternateName":"Zameen","url":"https:\/\/www.zameen.com\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/","url":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/upload\/2015\/09\/Zameen.com_-_Logo.png","width":600,"height":300,"caption":"Zameen.com"},"image":{"@id":"https:\/\/www.zameen.com\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/ZameenPK","https:\/\/x.com\/ZameenProperty","https:\/\/www.instagram.com\/zameenpk\/"]},{"@type":"Person","@id":"https:\/\/www.zameen.com\/news\/#\/schema\/person\/377abfe4dc60870161cf052d458a2925","name":"Iqra Masood","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/istockphoto-917649844-170667a-96x96.jpg","url":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/istockphoto-917649844-170667a-96x96.jpg","contentUrl":"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2021\/05\/istockphoto-917649844-170667a-96x96.jpg","caption":"Iqra Masood"},"description":"Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows &amp; movies.","sameAs":["http:\/\/zameen.com"],"url":"https:\/\/www.zameen.com\/news\/author\/iqramasood"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/88698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/comments?post=88698"}],"version-history":[{"count":2,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/88698\/revisions"}],"predecessor-version":[{"id":88755,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/posts\/88698\/revisions\/88755"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media\/63768"}],"wp:attachment":[{"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/media?parent=88698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/categories?post=88698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/tags?post=88698"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.zameen.com\/news\/wp-json\/wp\/v2\/persona?post=88698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}