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Syed Naveed Qamar Federal Minister for Privatisation has reiterated in a
statement issued here today that the policy statement given by the Prime
Minster in Senate of Pakistan on Friday for not privatising Qadirpur Gas Field
(QGF) would be implemented in letter and spirit and the issue stands resolved,
therefore, there was no point in continuing any protest, criticism or
agitation in this context. No decision would be taken to privatize QGF without
taking the Parliament into confidence. All stakeholders will be consulted in
the matter and the government will not proceed ahead with the process unless
there is a consensus on the issue. The process of privatisation of Qadirpur
Gas Field has consequently been stopped.
The Minister further clarified that the government stands by its decision not
to privatize Pakistan Steel Mills Corporation (PSMC) as announced on Friday.
He dispelled the impression that any type of privatisation of the Pakistan
Steel Mills Corporation was being contemplated in the near future. He further
clarified that neither privatisation nor any Initial Public Offering (IPO) of
PSMC on the stock exchange was being contemplated as yet. Even the Initial
Public Offering (IPO) of PSMC shares through Stock markets as decided by the
Supreme Court of Pakistan was not desirable and possible at this stage when
the market conditions were not favourable, which would be taken up at an
appropriate time the Minister added.