Pakistan and Russia have joined hands to revive Pakistan Steel Mills, marking a significant breakthrough in industrial cooperation and bilateral relations. The agreement, finalized during a high-level Pakistani delegation’s visit to Moscow, is set to breathe new life into one of the country’s most critical industrial assets.
The protocol was signed by Pakistan’s Secretary for Industries and Production alongside Russian counterparts. The revival will be undertaken with technical support from Russia, aiming to modernize operations and restore full-scale production at the Karachi-based steel facility.
Haroon Akhtar, the Prime Minister’s Special Assistant on Finance and Revenue, who led the delegation, described the development as a “historic milestone” for Pakistan’s industrial landscape. “Russia’s assistance in this initiative marks the beginning of a new industrial chapter for Pakistan. This reflects the Prime Minister’s vision of reviving and modernizing national assets for sustainable economic growth,” he said.
Once operational, the revamped Pakistan Steel Mills is expected to boost the country’s industrial output, reduce reliance on imported steel, and create thousands of direct and indirect jobs, particularly in Sindh.
The agreement also opens doors for enhanced Pakistan–Russia trade relations in other sectors such as energy, infrastructure, and machinery. Experts view this partnership as a sign of deepening trust and cooperation between the two countries.
With global steel demand on the rise and infrastructure projects scaling up under initiatives like CPEC and regional industrial expansion, the revival of Pakistan Steel Mills comes at a crucial time. It promises long-term benefits for local industries and supports broader economic resilience.
