In a JV, Pakistan Steel Mills may be given to Russian and Chinese companies for revival

In a JV, Pakistan Steel Mills may be given to Russian and Chinese companies for revival
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*ISLAMABAD – Finance Minister Asad Umar presided over a meeting of the Economic Coordination Committee (ECC) on Monday.*

Experts presented to the committee a plan for the revival of Pakistan Steel Mills. It was also proposed to give Pakistan Steel Mills to a foreign company on a joint venture.

It was also told in the meeting that several Russian and Chinese companies are interested in Pakistan Steel Mills.

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The final decision on the rehabilitation plan of Pakistan Steel Mills will be made in the next meeting of the EEC.

The ECC directed the Privatization and Industries Production to present a summary of the public-partnership plan during the next meeting.

The committee also approved the release of Rs 500 million for Torkham-Jalabad Highway.

The committee expressed its deep concerns over the increase in prices of medicines and food items. It directed the Ministries of Food Security and National Health Services to take practical steps to arrest the current trend of rise in prices.

The Petroleum Division briefed the ECC on the status of recoveries of Gas Infrastructure Development Cess for different industrial sections. The committee was informed about the litigation in different courts of law which had inhibited the collection of revenue during the recent years.

Economy