Pakistan and Russia have reached a historic deal to bring back to life the long-closed Pakistan Steel Mills (PSM) in Karachi. This agreement marks a new chapter in the old industrial ties between the two countries.
The Pakistan Steel Mills was originally set up in 1973 with help from the former Soviet Union and was once the backbone of the country’s steel industry. However, the mill has not been working since 2015, leaving thousands of workers jobless and adding to the country’s industrial challenges.
Now, with this new agreement, both countries hope to restart and expand steel production in Pakistan with technical and financial support from Russia. The agreement was signed at the Pakistan Embassy in Moscow by Secretary Saif Anjum and Russia’s Vadim Velichko.
Haroon Akhtar Khan, Special Assistant to the Prime Minister, praised the deal and called it a sign of the strong will of both nations to boost industrial growth together. He said the revival of Pakistan Steel Mills will not only help strengthen the local economy but also create more jobs and open new opportunities for local industries.
This new partnership is part of a bigger push by Pakistan and Russia to improve cooperation in other important areas such as energy, economy, and infrastructure. The revival of the steel mills shows that both countries are serious about working together for long-term development.
People are hopeful that with Russian support, the steel mills will once again become a symbol of Pakistan’s industrial strength.
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