The Sindh government is moving forward with its plan to revive Pakistan Steel Mills (PSM), with Chief Minister Murad Ali Shah requesting Russian assistance for the ambitious project, which aims to replace the aging infrastructure with a new plant.
In July, the federal government decided to shut down PSM, a state-owned enterprise that has been suffering from significant financial losses for years. However, the Sindh government has proposed to revive PSM under a public-private partnership model, hoping to turn the national asset into a source of employment and economic growth. The federal government has granted permission for Sindh to take control of 700 acres of the total 19,000 acres of PSM land to establish a new steel plant.
During a meeting with Russian Ambassador to Pakistan Albert Khorev at the CM House on Monday, CM Shah announced that an online meeting between Pakistani experts and Russian representatives is scheduled for next week. “This is an important step forward in the restoration of the mill,” said CM Shah. The online meeting will be followed by a visit from a Russian delegation to PSM for further assessments.
CM Shah told the Russian ambassador that the Pakistan Peoples Party was committed to the revival of PSM, which was originally established with Moscow’s help during the tenure of Zulfikar Ali Bhutto. The Russian ambassador confirmed that the online meeting would focus on the technical details of the project, and after that, the Russian delegation would visit the site for further evaluations.
Both CM Shah and Ambassador Khorev discussed the installation of a modern plant to replace the outdated infrastructure, agreeing that the revival of PSM would restore jobs for the workers.
