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Referring to a news report titled, 'Ministry- PC row delays Pak Steel IPO'
carried by daily Business Recorder on February 27, 2007, a spokesman of the
Privatisation Commission has refuted the whole news item, terming it as
entirely baseless and concocted. There is no dispute whatsoever between
Ministry of Production, Industries & Special Initiatives in respect of
Pakistan Steel Mills Corporation (PSMC) or any other transaction, and both are
working in close coordination and consultation with each other in all matters,
including the PSMC privatisation.
The privatisation of PSMC was previously approved by the Council of Common
Interests in 1997 and the approval was reaffirmed by the Council of Common
Interests (CCI) in its last meeting, the spokesman concluded.