ISLAMABAD - The Standing Committee on Industries and Production was informed on Monday that privatisation process of Pakistan Steel Mills is at advance stage and the process of privatisation of Heavy Electric Complex (HEC) is near completion. The meeting of the committee was held in Parliament House under the chairmanship of Syed Ghulam Mustafa Shah. The committee recommended that the details of assets of the employees of the steel mills— retired and also in the service—be provided to the committee. The committee further recommended that the Federal Investigation Authority (FIA) should also brief the committee regarding theft inquiry of the steel mills, in the next meeting. The committee was informed that M/o Industries & Production and M/o National Food Security & Research suggested that the shortage of 7 lac metric tonnes Urea fertilizer should be fulfilled locally by providing gas to the local production units. The committee was informed that in response of “Automotive Development Policy 2016-21”, many cars manufacturers showed interest. 8 cars manufacturing plants have been installed till now. Advance booking payment restricted to 20 percent for cars, LCVs, SUVs, by the ministry according the policy.
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