Pakistan and Russia have taken a significant step toward deepening their bilateral economic ties by agreeing to establish a new steel mill in Karachi. The decision was finalized during a high-level meeting between Russian Representative Denis Nazaroof and Special Assistant to the Prime Minister (SAPM) on Investment, Haroon Akhtar Khan.
The initiative reflects a broader commitment by both nations to strengthen cooperation in strategic sectors. According to an official news release, the core agenda of the meeting centered on the development of new steel production facilities in Pakistan. As a result, both parties have agreed to form a joint working group that will oversee the planning, development, and implementation of the proposed steel mill.
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Haroon Akhtar Khan highlighted the Prime Minister’s vision to attract foreign investment and emphasized that Pakistan is currently positioned as a robust and secure investment destination. He stated that the evolving economic landscape of Pakistan offers lucrative opportunities for international stakeholders, particularly in the industrial sector.
Khan further pointed out the potential mutual benefits of a Pakistan-Russia collaboration in the steel industry, suggesting that such joint ventures could pave the way for broader economic cooperation. The SAPM extended a formal invitation to Russian investors, encouraging them to explore and capitalize on the growing investment prospects in Pakistan.
This meeting marks a notable advancement in Pakistan-Russia relations and is seen as a gateway to new avenues of partnership across key industries. As the joint working group begins its task, both sides are expected to continue engaging in detailed discussions to bring the project to fruition and contribute to Pakistan’s industrial development.
