Ex-serviceman appointed PSM chief

ISLAMABAD: The federal government on Friday appointed retired Brig Shujah Hassan as new chief executive officer of the Pakistan Steel Mills.

A notification issued by the Establishment Division says the appointment of Shujah Hassan will be for one year with immediate effect and until further orders. However, the appointment is subject to termination on one month’s notice by either side, it says.

Brig Hassan’s name had been shortlisted by the PSM board of directors on the grounds that he has demonstrated strong commitment to supporting the government’s vision to review the country’s largest industrial unit. Following an advertisement published in November last year, five candidates were called for interview, but only three appeared.

This is the first time since 2016 that a full-time PSM chief executive officer has been appointed by the federal government.

Late last month, the PSM board of directors recommended to the federal government the names of three shortlisted candidates for the CEO post. Priority was given to the candidate who could help restructure the PSM and promote public-private partnership.

The Privatization Commission has already hired a financial adviser who has completed due diligence.

The transaction structure is currently being deliberated and the government plans to complete it by December.