Pakistan Looks to Revive Steel Industry and Boost Investment through Strategic Russia Engagement
In a significant move to enhance bilateral economic ties and rejuvenate its industrial sector, Pakistan is preparing for high-level diplomatic engagement with Russia. The Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar Khan, will lead a delegation to Russia to discuss the revival of Pakistan Steel Mills and explore new avenues for foreign investment. This initiative aims to strengthen Pakistan’s industrial capabilities and foster international cooperation for sustainable economic growth.
Recently, a Russian delegation headed by Mr. Denis Nazarov visited Islamabad and held detailed discussions with SAPM Haroon Akhtar Khan. The talks focused on strengthening bilateral cooperation, with particular emphasis on the potential rehabilitation of Pakistan Steel Mills, a key industrial asset that has been largely non-operational in recent years. Both sides expressed interest in collaborating on technical assistance and investment strategies to restore the mill’s productivity and competitiveness.
The upcoming visit by SAPM Haroon Akhtar Khan to Russia, scheduled for July 5, 2025, is a pivotal component of Pakistan’s broader economic strategy. During the visit, he will engage with prominent Russian investors and industrial companies to promote investment opportunities across Pakistan’s industrial and infrastructure sectors. The discussions are geared towards attracting foreign direct investment (FDI), facilitating knowledge transfer, and exploring technical collaborations necessary for the steel mill’s rehabilitation.
This diplomatic effort reflects Pakistan’s unwavering commitment to industrial revitalization and fostering international partnerships. By engaging with Russia—a key global economic player—the government aims to bolster industrial growth, attract strategic investments, and create a more conducive environment for sustainable development. These initiatives are integral to Pakistan’s broader objectives of economic diversification and industrial modernization to ensure long-term prosperity.
