Pakistan and Russia have signed a landmark agreement to revitalize and modernize the Pakistan Steel Mills (PSM) in Karachi, renewing their historic industrial partnership. The accord symbolizes a commitment to improve industrial output, create employment opportunities, and marks a significant milestone aligned with Prime Minister Shahbaz Sharif’s vision for industrial development and economic growth, according to the Special Assistant to the Prime Minister on Industries and Production, Haroon Akhtar Khan.
Highlighting considerable bilateral ties, a delegation led by the Special Assistant on Industries and Production, Haroon Akhtar Khan, reached an agreement with Russian officials aimed at reviving and upgrading the Pakistan Steel Mills. Pakistan’s Secretary for Industries and Production, Saif Anjum, and Russia’s Vadim Velichko signed the protocol, demonstrating mutual intent and collaboration between the two countries.
Originally established through Soviet collaboration in 1971, the Pakistan Steel Mills has historically symbolized a strong industrial link between the two nations. Haroon Akhtar Khan emphasized that its modernization through restored cooperation with Russia will mark the beginning of a new industrial chapter and represents a reflection of Prime Minister Shahbaz Sharif’s ambitious and progressive approach towards industrial development.
Underlining the significance of this partnership, Khan noted the agreement as a strategic milestone for Pakistan’s industrial future. He expressed optimism that modernizing the Pakistan Steel Mills would enhance industrial output, stimulate economic activity, and generate substantial employment opportunities for the local workforce in Karachi.
Officials from both countries have expressed confidence that cooperation on Pakistan Steel Mills’ revival will lay a strong foundation for a prosperous and technologically advanced industrial sector in Pakistan.
