Re: Pakistan’s top judge is suspended (Merged)
The Steel Mills were sold to a Russian-Pakistani-Saudi Consortium. for nearly $400 million. The price of the Steel mills was estimated at $482 million. This is not a bad price under any bidding circumstances. It all depends on the prospects of the companies concerned. In a bid, the highest bidder gets the deal. In this case the Russians were offering the most, so they clinched it. It’s not possible to artificially lower the price for a favoured friend in this case. Think about why, if you can..
The land was not included or sold off in the transaction, only the Steel mills were. “Out of 19000 acres of the land of PSMC around 14500 acres worth about US $ 800 million has been separated from the transaction, which would be used by the government for appropriate project, he added.”
http://www.privatisation.gov.pk/Handout/HO-AR-06/Mar-06/HO-31032006%20Pakistan%20Steel%20Mills%20Corporation%20(PSMC)%20Receives%20Highest%20Offer%20of%20Rs.21.680.htm
How can the Pakistani (Habib Group) be getting it at a low price when the Mills have been privatized by mainly foreign groups (such as the Russians and Saudis) and also bid in front of the media? Are you saying that Musharraf is also good friends with Magnitogorsk Iron & Steel Works (Russia)..majority stakeholder in the Steel Mills Transaction?