The Director General of Asian Development Bank Werner E. Liepach along with delegation called on Minister for Privatization Daniyal Aziz in Islamabad.

During the meeting, the Minister apprised the DG ADB about the privatization progress made regarding loss making State entities including Pakistan Steel Mills and PIA.

He told that the Cabinet Committee on Privatization has approved a thirty-year concession transaction structure for the restructuring of Pakistan Steel Mills.

Regarding PIA, Daniyal Aziz told the delegation that national airline’s privatisation will be carried out according to the law and government will be holding management control along with 51percent shares.

He said that privatization will bring economic progress by turning these loss making entities into profit making.

ADB Director General assured that the Bank will extend financial and technical support to go ahead with these projects.