Steel mill Pakistan Steel Millsявляется the only such enterprise in Pakistan. It was built in the 70-ies of the last century. In this Pakistan contributed to the Soviet Union. However, from 2015, the company is idle. It was forced to suspend work because of lack of gas supply. After that started the investigation of the circumstances under which the plant was closed. The process was carried out by the control bodies.
It was said that the investigation is completed. This was announced at a recent meeting. It was a meeting of the Senate Committee on industry and trade. The news was announced by Secretary of the Ministry of industry of Pakistan, Azhar Ali Chaudhry. He also spoke about the current state of the enterprise. It is reported that it became overgrown with losses. Those payments amounted to more than $ 1.5 billion. With this urgent need to do something.
First of all, is urgently needed to restore the production process at the plant. But this is not so simple. Currently the government is considering all sorts of options. The most acceptable at the present time is to find a private investor. This will allow to promptly repay most of the debt. In addition, the company has already started to show interest. Mostly this applies to Chinese and Russian investors. But as you know, to sell the mill authorities tried for several years. All transactions have been unsuccessful. Because the Pakistani authorities will be to take himself for the restoration of the enterprise. In any case, so the process can go faster.