PSM consortium files review petition
Staff Report

ISLAMABAD—A petition has been filed with the Supreme Court on Saturday seeking review of its decision holding the privatization of Pakistan Steel Mills as null and void.
The petitioners - Arif Habib Securities and al-Tuwarqi Steel of Saudi Arabia - took plea in the petition that the allegations leveled against Mr. Arif Habib of Arif Habib Securities were baseless and fake cases have been registered against him, involving him in crash of Karachi Stock Exchange.
The 35-page petition demanding review of the Supreme Court's detail verdict on PSM privatization deal has been filed on the last day of stipulated time set by the Apex Court for appeal against the decision.
This is the second appeal before the Apex Court, after the PrivatizationCommission filed a similar appeal demanding review of the detail decision and setting aside the short order to correct the accord.
The Supreme Court annulled the sale of Pakistan Steel Mills to a three-party consortium and directed the government to refer the matter to the Council of Common Interests (CCI) within six weeks on June 24, 2006.