KARACHI: A major breakthrough has been made in efforts to revive Pakistan Steel Mills, which has remained closed for almost 11 years, as five foreign investors have formally expressed interest in its reactivation.
Significant progress was reported following a high-level meeting led by Haroon Akhtar Khan, the special assistant to the prime minister. He met with the Pakistani ambassador to Russia, where the revival of Pakistan Steel Mills was discussed in detail.
Officials termed the development an important milestone toward restoring the country’s largest industrial asset.
Haroon Akhtar confirmed that five major Russian companies have shown keen interest in investing in and reviving Pakistan Steel Mills. He said discussions with Russian authorities and potential investors are progressing rapidly.
According to him, engagement with foreign stakeholders is part of a broader strategy to ensure long-term sustainability of the steel mill.
The special assistant said Prime Minister Shehbaz Sharif has a clear vision to reactivate Pakistan Steel Mills, adding that this vision is now moving toward practical implementation.
He stressed that the revival of the steel mill is a priority for the government due to its economic and strategic importance.
Comprehensive roadmap prepared
Haroon Akhtar revealed that a comprehensive roadmap for the revival of Pakistan Steel Mills has already been finalized. The plan outlines key steps for restructuring, investment, and operational restoration.
He added that meetings with Russian officials and investors are continuing at a fast pace to translate planning into action.
Officials believe the renewed international interest reflects growing confidence in Pakistan’s industrial revival agenda. The government hopes that restarting Pakistan Steel Mills will generate employment, boost industrial output, and strengthen the national economy.
Further developments are expected as negotiations with foreign investors move forward.
