Pakistan and Russia have signed an agreement to restart operations at Pakistan Steel Mills. The deal marks a major step in industrial cooperation between the two countries.
The agreement was finalized in Moscow. A Pakistani delegation, led by the Prime Minister’s Special Assistant Haroon Akhtar, signed the protocol with Russian officials. The focus is on modernizing the steel mills with technical support from Russia.
Pakistan’s Secretary for Industries and Production signed the accord. Russian experts will help upgrade the mills to increase production and efficiency.
Haroon Akhtar said the revival of the steel mills is a top priority. He added that the project supports the Prime Minister’s vision of industrial development and job creation.
The steel mills have been closed for several years. Their revival is expected to improve local steel output and reduce the need for imports. This will also help boost economic growth and create new employment opportunities.
Officials from both countries see the agreement as a key milestone. It reflects strong economic ties and long-term cooperation between Pakistan and Russia.
The steel mills will be modernized in phases. The plan includes technology upgrades and improved management systems. These changes aim to make the mills profitable and sustainable.
This agreement is part of Pakistan’s larger plan to rebuild its industrial sector. The government hopes it will attract more foreign investment and strengthen the economy.
The revival of the steel mills is a positive step for Pakistan’s industry. It shows a commitment to restoring key national assets and promoting self-sufficiency.
The government has reversed earlier revival plans, and decided to permanently shut down Pakistan Steel Mills.This move ends decades of industrial history.
It raises concerns about job losses and economic impact.
