Missed Opportunity: Pakistan Steel Mills Privatisation Delay Regretted

Muhammad Zubair, a prominent figure from Pakistan Muslim League-Nawaz (PML-N), expressed regret over the Delayed Privatization of Pakistan Steel Mills (PSM) Stating it could have Significantly benefited the Country. Zubair a former Sindh Governor, Emphasized that the PML-N believed in Privatizing Struggling institutions as a viable Solution to financial Challenges.


In a recent interview on News’ program ‘Khabar,’ Zubair lamented the financial losses incurred due to the Delayed Privatization of PSM. He Noted that PML-N had Established a Robust Privatisation Board making important Decisions to address the Economic issues Faced by the Country.
Highlighting the reversal of the Privatisation decision by former Chief Justice Iftikhar Chaudhry, Zubair emphasized the Negative impact on Pakistan’s Global image. He Revealed that Foreign Companies including those from China had shown interest in PSM, and its Privatisation would have brought Significant Benefits.


Zubair further disclosed that PML-N had Prioritized the Privatisation of Major Loss-Making institutions including Pakistan International Airlines (PIA) Pakistan Steel Mills (PSM) and Faisalabad Electric Supply Company (FESCO). The Leader Regretted the Reversal of the Privatisation Process Claiming that the Board Led by Former finance minister Ishaq Dar, Played a Pivotal Role in halting the Process.

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According to Zubair the PIA Privatisation Process had reached an advanced Stage before being Halted. He Pointed out that Political Hindrances often obstruct the Privatisation Process, leading to Missed Opportunities for the Country’s Economic improvement.


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Zubair Concluded by expressing Concern over the Political interference in the Privatisation of Pakistan Steel Mills Which was Eventually handed over to the Sindh Government. The Leader Highlighted the need for effective Privatisation Strategies to address financial Challenges faced by State-Owned Enterprises.
The Delayed Privatisation of PSM is viewed by Zubair as a missed Opportunity to Enhance the Economic Prospects of Pakistan and he Remains Critical of the Decision-making Process that Led to this Outcome.