ISLAMABAD – Pakistan Steel Mills (PSM) gets an international offer asWorld leading Chinese Groups has expressed interest in Pakistan Steel Mills.
China First Metrological Group Co. Limited (CFMCC) has expressed interestto restore and improve the state-owned mill which has been lying idle sincethe mid of 2015.
According to a report in an English daily*, *the scheduled meeting of thePSM board has been cancelled two times without any specific reason.
However, as per insiders claim no one is willing to shoulder theresponsibility for PSM’s restoration plan afraid the NationalAccountability Bureau (NAB) may become active against its board.
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PSM has remained without any active leadership in its ranks with thepositions of CEO and CFO lying vacant.
CFMCC in its letter of intent (LoI) has said it is a big state-ownedenterprise and China Metallurgical Group Corporation holds shares in thecompany, which is amongst the top 500 companies globally.
