ISLAMABAD: The Sindh government has demanded incentives from the federal government for acquiring Pakistan Steel Mills (PSM).
According to the PSM management, the federal government is offering the mill as it is in the current condition in line with a decision of the Economic Coordination Committee (ECC). The centre was not ready to offer any incentives, it said.
After refusal from the centre, the province appears to have lost interest in the mill, which is a gigantic industrial complex. It replied to the letter that since the federal government was not willing to extend fiscal incentives, it could not push ahead with the planned acquisition.
The earlier offer to the Sindh government for taking over the mill, after the province expressed its desire and opposed privatisation, has remained unanswered despite a passage of several months.
