KARACHI : Pakistan Steel Mills received a draft proposal from the Ministry of Production to take PSM out of the current financial crisis and move it towards revival and rehabilitation. It was decided that the entire bailout package will only be used for procurement/import of raw materials. A bank consortium is to be formed to work out the capital requirement of PSM. Under the collective leadership of present CEO and the administration of PSM has managed to secure a lifeline bailout package worth Rs.11b.