Chinese group interested in buying Pakistan Steel

One Chinese delegation has expressed its interest in buying the Pakistan Steel Mills which has shown no sign of improvement despite being bailed out by the incumbent government with Rs20 billion.

A delegation from China's Metallurgical Group, which has already visited the PSM in Karachi, met with Minister for Industries and Production Ghulam Murtaza Khan Jatoi on Thursday.

During the meeting the group expressed its desire to buy the ailing state owned entity with a determination to increase its production to five million tons.