The Pakistan Steel Mills (PSM) has opposed a bid by the Sui Southern Gas Company Ltd to take over its 1,400 acres for Rs43 billion, a valuation the mill’s management has described as “one-sided”. The takeover bid has been made against the mill’s outstanding liabilities that the gas company’s management has worked out at Rs48bn as of Dec 31, 2022. Informed sources told Dawn that the SSGCL ha