Allocated Land: PSM denies fresh price assessment

investment and land allocation is done by NIP

Pakistan Steel Mills (PSM), while responding to a news report titled “Renault suffers setback as PSM refuses to provide allocated land” published on March 9 in The Express Tribune, has said that the selection of investors and allocation of land in the Bin Qasim Industrial Park is done by the National Industrial Parks Development and Management Company (NIP). “PSM handed over the entire 930 acres for the industrial park way back in 2007,” a spokesperson for the mill said. He also said the PSM board had not ordered any fresh price assessment of the allotted land, adding the assessment had only been ordered in respect of un-allotted land for financial year 2017-18. “Annual price revision in respect of un-allotted land is the stipulation of an agreement between NIP and PSM executed in July 2007,” he said. 

Published in The Express Tribune, March 13^th, 2018.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.