The land will be given in a lease as part of the transaction. The steel mills is among the largest loss making units that costs 17 billion rupees ($100 million) a year. The steel complex near the port in Karachi will need investment but it is still viable since there is a shortage of steel that’s imported into Pakistan, said Soomro. On Friday, the treasury had informed the upper house of parliament that PSM suffered an overall loss and liability of Rs67.1 billion from June 30 to December 31, 2020. “The PSM has suffered overall loss and liability of Rs67.1 billion from 30th June to 31st December 2020,” State Minister for Parliamentary Affairs Ali Muhammad Khan replied to a query during question hour of Senate session.

Source: Pakistan Today October 01, 2021 17:26 UTC