The Pakistani embassy in Russia reported on Friday that Islamabad and Moscow signed a 'protocol to revive Pakistan Steel Mills (PSM) in Karachi', and referred to it as a 'reaffirmation' of their 'age-old industrial partnership'.
The signing ceremony was held at Pakistan's embassy in Moscow, with Saif Anjum, secretary of industries and production of Pakistan, and Vadim Velichko, general director of Industrial Engineering LLC, appearing on behalf of their respective sides.
SAPM Haroon Akhtar Khan and Pakistan's ambassador to Russia, Muhammad Khalid Jamali, were also present.
The deal is centered on reviving and resuming steel making at PSM. "Reviving PSM with Russian help is an extension of our common past and commitment to a more industrialized future," Khan said.
Constructed in 1973 with the assistance of the Soviet Union, PSM is a testament to Pakistan-Soviet relationships, the Pakistani embassy stated.
Earlier this month, Pakistan and Russia also signed an agreement to further develop road and rail connectivity to connect Pakistan with Central Asia and Russia. This partnership is meant to provide landlocked countries direct access to warm waters, Geo News reported.
At the Shanghai Cooperation Organisation (SCO) ministerial conference at Tianjin, China, Pakistan's federal minister for communications Abdul Aleem Khan and Russian deputy minister of transport Andrey Sergeyevich Nikitin spoke about accelerating the development of infrastructure to increase trade and economic integration in the region.
Emphasising Pakistan's drive towards modernisation, Khan stated that the nation is upgrading its transport infrastructure through digitalisation, obligatory e-tagging, motorway barrier-free, and widespread CCTV surveillance. PTI informs that these actions are all part of Pakistan's master plan to enhance regional connectivity and border trade.
In the meantime, Pakistan and Afghanistan last month committed to advancing the Uzbekistan-Afghanistan-Pakistan (UAP) railway project.
Deputy Prime Minister and Foreign Minister Ishaq Dar and Afghanistan's Acting Foreign Minister Amir Khan Muttaqi, in a telephonic call, agreed to coordinate on finalizing the framework agreement for the project.
