KARACHI - Board of Directors (BoD) of Pakistan Steel Mills (PSM) has decided that the mill will not be allowed to be privatized.

The decision was taken in the meeting of the BoD held here under its chairman Fazal Qureshi Tuesday. Meeting was attended by federal secretary Gul Muhammad Rind, chairman CBA Shamshad Qureshi, CEO PSM, Muhammad Javed and others. 

It was unanimously decided in the meeting that national industry PSM would not be allowed to be privatized and no such proposal was under consideration at present. This entity will soon be able to stand on its feet with the cooperation of the government, they declared.

It was told in the meeting that supply of raw material has been started in PSM. It was also decided in the meeting that perks and privileges in respect of officers and subordinate staff will continue.  Earlier ahead of the meeting a delegation led by chairman  CBA Shamshad Qureshi met federal secretary for production Gul Muhammad Rind in PID House and apprised him of their reservations and unrest prevailing among the employees.  Federal secretary assured the delegation that PSM would further progress and bring improvement in the national economy. Full protection is being provided to the employees and this entity is out of the list of privatization, he said.