Moscow ( The COW News Digital)Pakistan and Russia have officially signed a protocol agreement aimed at the revival and modernization of the Pakistan Steel Mills located in Karachi. The signing ceremony took place at the Pakistani Embassy in Moscow, marking a significant step toward rejuvenating one of Pakistan’s key industrial assets.
The protocol was signed by Saif Anjum, Secretary of the Ministry of Industries and Production from Pakistan, and Vadim Velichko, General Director of Industrial Engineering LLC representing Russia. The event was also attended by Prime Minister’s Special Assistant Haroon Akhtar Khan and Pakistan’s Ambassador to Russia, Muhammad Khalid Jamali.
Haroon Akhtar Khan highlighted that the revival of Pakistan Steel Mills aligns directly with the vision of the Prime Minister to strengthen the country’s industrial base and promote economic growth. He described the agreement as a “milestone” for the development and future of the steel industry in Pakistan.
The Karachi Steel Mills, once the backbone of Pakistan’s industrial sector, has faced numerous challenges including operational inefficiencies, financial difficulties, and outdated technology. This new partnership with Russia is expected to bring in technical expertise, advanced engineering solutions, and investment necessary to restore full production capacity and competitiveness on a global scale.
Officials expressed optimism that the collaboration would not only revitalize the steel mill but also generate employment opportunities, improve industrial output, and contribute to Pakistan’s broader economic goals. The modernization efforts will focus on adopting cutting-edge technologies and sustainable practices to ensure long-term viability.
The agreement is also seen as a strengthening of bilateral ties between Pakistan and Russia, expanding cooperation beyond traditional sectors into key areas of industrial development and technology transfer.
This development follows recent efforts by the Pakistani government to restructure and revive state-owned enterprises to boost the manufacturing sector. The Pakistan Steel Mills’ revival is expected to catalyze further investments in the industrial landscape and enhance the country’s infrastructure capabilities.
As Pakistan pursues economic reforms and industrial growth, the collaboration with Russia on the steel mill project underscores the importance of international partnerships in achieving national development objectives.
The implementation of the protocol will now commence, with detailed plans and timelines expected to be rolled out in the coming months.
