Zubair believes that privatising Pakistan Steel Mills would have been beneficial for the country.

Muhammad Zubair emphasized the need for the privatisation of loss-making institutions in Pakistan. He cited the reversal of Pakistan Steel Mills’ privatisation by former chief justice Iftikhar Chaudhry as a decision that portrayed a negative image of Pakistan globally. Zubair highlighted that foreign companies, including those from China, had shown interest in Pakistan Steel Mills, and the privatisation would have benefitted the country. He also mentioned the PML-N’s manifesto to privatise up to 70% of institutions and the party’s plans to privatise Pakistan International Airlines, Pakistan Steel Mills, and FESCO in 2015. However, he expressed regret that the privatisation process was halted, alleging political hindrance and the involvement of former finance minister Ishaq Dar in reversing the process.