Islamabad: As per Ministry of Industries and Production, in a significant development aimed at boosting industrial cooperation, Pakistan and Russia have agreed to collaborate on the establishment of a new steel mill in Karachi.
The decision emerged following a high-level meeting between Mr. Haroon Akhtar Khan, Special Assistant to the Prime Minister of Pakistan, and Mr. Denis Nazaroof, a representative of the Russian government.
The meeting focused on enhancing bilateral ties through industrial cooperation, with both sides engaging in detailed discussions on potential collaboration in the steel sector.
As a result, the two countries agreed to establish a joint working group that will oversee the development and execution of this important initiative.
Mr. Haroon Akhtar Khan reaffirmed the Prime Minister’s commitment to attracting foreign investment, describing the current economic climate as an opportune moment for international partners to invest in Pakistan.
He highlighted Pakistan’s emergence as a safe and stable environment for global business and reiterated the government’s focus on fostering strategic industrial partnerships.
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He further emphasized the mutual benefits that could arise from Pakistan-Russia cooperation in the steel industry, viewing the proposed project as a promising example of economic diplomacy.
“Pakistan is a secure and thriving hub for investment, and the international community has recognized its potential,” Mr. Khan stated during the meeting.
He also extended a formal invitation to Russian investors and business leaders to explore broader opportunities within Pakistan’s growing industrial landscape.
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The meeting concluded with a shared commitment to strengthen economic ties between the two nations, with the steel mill project representing a significant step forward in fostering long-term collaboration across critical sectors.
