Chinese and Russian joint economic revival offer for sick institutions of Pakistan

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Chinese and Russian joint economic revival offer for sick institutions of Pakistan

*ISLAMABAD - * China and Russia have offered to revive multi billions Pakistan Steel Mills as its companies have expressed keen interest to make investments worth billions in Pakistan Steel Mills.

*Prime Minister Imran Khan was apprised of the Chinese and Russian companies offer during a high-level session to discuss the steps for the revival of the state-owned Pakistan Steel Mills. *

The session was attended by Adviser to PM on Commerce, Textile, Industries and Production and Investment Abdul Razak Dawood, federal minister for privatisation Mohammad Mian Soomro, Board of Investment (BoI) chairman Zubair Gilani and other officials.

PM Khan was briefed over different recommendations for the revival of the steel mills. During the briefing, the premier was told that China and Russia have offered to provide assistance to revive PSM as its companies expressed interest to make investments.

The officials told PM Khan that the concerned institutions are mulling over different recommendations and the offers placed by the foreign companies.

PM Khan said that the revival of PSM is among the top priorites of the present government. He said that the government is making all-out efforts to transform PSM into a profitable entity which will also increase additional burder on the national exchequer.

The premier urged concerned authorities to activate the national entity so that it will play its role in the national development.